Problem $14-15$ Finding the WACC $[$LO$3]$

You are given the following information for Lighting Power Company. Assume the company$$s tax rate is $21$ percent.

Debt:

$11,0006$ percent coupon bonds outstanding, $$1,000$ par value, $26$ years to maturity, selling for $108$ percent of par; the bonds make semiannual payments.

Common stock: $440,000$ shares outstanding, selling for $$62$ per share; the beta is $1\mathrm{.}13.$

Preferred stock:

$19,000$ shares of $3\mathrm{.}8$ percent preferred stock outstanding, a $$100$ par value, currently selling for $$83$ per share.

Market: $7$ percent market risk premium and $4\mathrm{.}8$ percent risk$-$free rate.

What is the company's WACC? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$