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29. PittSteel has the following capital structure. Its corporate tax rate is 35 percent. What is its Weighted Average Cost of Capital (WACC)? Security Market

29. PittSteel has the following capital structure. Its corporate tax rate is 35 percent. What is its Weighted Average Cost of Capital (WACC)?

Security Market Value Required return

Common stock 600 15 %

Preferred stock 100 11 %

Debt 500 9 %

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