You are given the following information for Lightning Power Co. Assume the company’s tax rate is 35 percent.
8,000 6.5 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 106 percent of par; the bonds make semiannual payments.
15,000 shares of 4 percent preferred stock outstanding, currently selling for $72 per share.
What is the company's WACC? (Do not round intermediate calculations and round your answer to2 decimal places. (e.g., 32.16))
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