Thumbtack’s capital structure is shown in table below. If taxes are paid annually and Thumbtack’s combined tax rate is 36 percent, determine the weighted average cost of capital.

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Loans Bonds Common Stock 12%/yr/semi 8%/yr/qtr $3,000,000 $4,500,000 $72/share price; $2,000,000 $8/shr/yr dividend; 1%/yr share price growth Retained Earnings $1,500,000