Given the following information for Watson Power Co., find the WACC . Assume the company's tax rate is 21 percent Debt : 15000 bonds with a 5.8 percent coupon outstanding , $1000 par value, 25 years to maturity, selling for 108 percent of par; the bonds make semiannual payments

Common stock : 575,000 shares outstanding, selling for $64 per share, the beta is 1.09

Preferred stock : 35,000 shares of 2.8 percent preferred stock outstanding, currently selling for $65 per share. the par value is $100.

Market 7 percent market risk premium and 3.2 percent risk free rate