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3. Phil's Carvings, Inc. has cost of debt of 5% and a cost of equity of 11%. The debt-equity ratio is 0.5. Phil's Carvingss tax

3. Phil's Carvings, Inc. has cost of debt of 5% and a cost of equity of 11%. The debt-equity ratio is 0.5. Phil's Carvingss tax rate is 35% . What is the weighted average cost of capital for Phil's Carvings, Inc.?

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