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3 Problem 14-10 Taxes and WACC [LO3] Lannister Manufacturing has a target debt-equity ratio of .85. Its cost of equity is 12 percent, and its

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3 Problem 14-10 Taxes and WACC [LO3] Lannister Manufacturing has a target debt-equity ratio of .85. Its cost of equity is 12 percent, and its cost of debt is 6 percent. If the tax rate is 24 percent, what is the company's WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) 10 points WACC

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