Problem 14-15 Finding the WACC [LO3] You are given the following information for Lighting Power Company. Assume the company's tax rate is 25 percent. Debt Common stock: 480,000 shares outstanding, selling for $66 per share; the beta is 1.17. 21,000 shares of 4.2 percent preferred stock outstanding, a $100 par value, currently selling for $87 per share. 5 percent market risk premium and 5.3 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., 32.16.) Preferred stock: Market: 15,000 6.4 percent coupon bonds outstanding, $1,000 par value, 28 years to maturity, selling for 106 percent of par, the bonds make semiannual payments. WACC %

You are given the following information for Lighting Power Company. Assume the company's tax rate is 25 percent. Debt 15,0006.4 percent coupon bonds outstanding. $1,000 par value, 28 years to maturity, selling for 106 percent of par. the bonds make semiannual payments. Common 480,000 shares outstanding, selling for $66 per share; the beta is 1.17 stock: Preferred 21,000 shares of 4.2 percent preferred stock outstanding, a $100 par stock: value, currently selling for $87 per share. Market 5 percent market risk premium and 5.3 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., 32.16.)