Dont use Excel, type it out, show all work.

You are given the following information concerning Baron Co. Calculate the WACC for Baron Co. Debt: 18,296 5% coupon bonds outstanding, quoted at 105, with 20 years to maturity. These bonds pay interest semiannually. Common Stock: 350,000 shares common stock selling for $59.55 per share. The stock has a beta of 1.38. Preferred Stock: 10,000 shares of preferred stock with a dividend of $5.20 per share. It is currently selling at $103.65 per share. Market: The market premium is 7.5%, and the risk-free rate of return is 2.5%. tax bracket = 35% Baron's WACC = % (Round your answer to two decimal places in percentage. For example, if your answer is 0.0547, input your answer as 5.47.)