Finding the WACC $[[$ LO$3]$ Given the following information for Lightning Power Co$.,$ find the WACC. Assume the company's

tax rate is $21$ percent.

Debt: $,12,000$ bonds with a $4\mathrm{.}6$ percent coupon outstanding, $$1,000$ par value, $25$ years to maturity, selling for $105$

percent of par; the bonds make semiannual payments.

Common stock: $575,000$ shares outstanding, selling for $$81$ per share; the beta is $1\mathrm{.}04.$

Preferred stock: $30,000$ shares of $3\mathrm{.}4$ percent preferred stock outstanding, a $$100$ par value, currently selling for $$94$ per

share.

Market: $,7$ percent market risk premium and $3\mathrm{.}2$ percent risk$-$free rate.