The Saunders Investment Bank has the following financing outstanding.

Debt:
56,000 bonds with a coupon rate of 5.2 percent and a current price quote of 107.3; the bonds have 11 years to maturity and a par value of $1,000. 18,100 zero coupon bonds with a price quote of 26.5, 28 years until maturity, and a par value of $10,000. Both bonds have semiannual compounding.

Preferred stock:
151,000 shares of 3.3 percent preferred stock with a current price of $88 and a par value of $100.

Common stock:
2,220,000 shares of common stock; the current price is $88 and the beta of the stock is 1.20.

Market:
The corporate tax rate is 21 percent, the market risk premium is 7.2 percent, and the risk-free rate is 3.1 percent.

What is the WACC for the company? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)