Debt:
10,000 7.1 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 107 percent of par; the bonds make semiannual payments.
Common stock:
430,000 shares outstanding, selling for $61 per share; the beta is 1.04.
Preferred stock:
21,000 shares of 5 percent preferred stock outstanding, currently selling for $81 per share.
Market:
10 percent market risk premium and 5.1 percent risk-free rate.
What is the company's WACC?
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