Consider the following information for Evenflow Power Co.,

Debt: 3,500 8 percent coupon bonds outstanding, $1,000 par value, 22 years to maturity, selling for 102 percent of par; the bonds make semiannual payments.

Common stock: 84,000 shares outstanding, selling for $60 per share; the beta is 1.1.

Preferred stock: 10,000 shares of 6.5 percent preferred stock outstanding (note: multiply this percentage in decimal format times 100 to get the dividend), currently selling for $105 per share.

Market: 9.5 percent market risk premium and 6 percent risk-free rate.

Assume the company's tax rate is 34 percent.

Required: Find the WACC. (Do not round your intermediate calculations.)

12.14%

11.56%

11.24%

11.06%

11.16%