Information on Janicek Power Co., is shown below. Assume the company’s tax rate is 34 percent....

Information on Janicek Power Co., is shown below. Assume the company’s tax rate is 34 percent.

Debt:	10,100 8.7 percent coupon bonds outstanding, $1,000 par value, 24 years to maturity, selling for 96 percent of par; the bonds make semiannual payments.

Common stock:	226,000 shares outstanding, selling for $84.60 per share; beta is 1.31.

Preferred stock:	13,600 shares of 5.8 percent preferred stock outstanding, currently selling for $96.40 per share.

Market:	7.05 percent market risk premium and 4.85 percent risk-free rate.

Required:

Calculate the company's WACC.

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