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: $,21,0007$ percent coupon bonds outstanding, $$1,000$ par value, $22$ years to maturity, selling for $108$ percent of par; the bonds make semiannual payments.

Common stock: $540,000$ shares outstanding, selling for $$72$ per share; the beta is $1\mathrm{.}18.$

Preferred stock:

Market:

$24,000$ shares of $4\mathrm{.}8$ percent preferred stock outstanding, a $$100$ par value, currently selling for $$93$ per share.

$5$ percent market risk premium and $5\mathrm{.}3$ 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$.,32\mathrm{.}16.)$

WACC $\%$