Consider the following information for Watson Power Co$.$: Debt: $6,0006$ percent coupon bonds outstanding, $$1,000$ par value, $22$ years to maturity, selling for $103$ percent of par; the bonds make semiannual payments. Common stock: $126000$ shares outstanding, selling for $$61$ per share; the beta is $1\mathrm{.}05.$ Preferred stock: $18500$ shares of $5\mathrm{.}5$ percent preferred stock outstanding, currently selling for $$104$ per share. Market: $7\mathrm{.}5$ percent market risk premium and $4\mathrm{.}5$ percent risk$-$free rate. Assume the company's tax rate is $33$ percent. Find the WACC.