Given the following information for Watson Power Co$.,$ find the WACC. Assume the

company's tax rate is $21$ percent.

Debt $10,0006\mathrm{.}4$ percent coupon bonds outstanding, $$1,000$ par value, $25$ years to

maturity, selling for $108$ percent of par; the bonds make semiannual payments.

Common stock. $495,000$ shares outstanding, selling for $$63$ per share; the beta is

$1\mathrm{.}15.$

Preferred stock. $35,000$ shares of $3\mathrm{.}5$ percent preferred stock outstanding, currently

selling for $$72$ per share.

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