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A company has the following information. Debt: 1 8 , 0 0 0 bonds outstanding, 6 percent coupon, $ 1 , 0 0 0 par

A company has the following information. Debt:18,000 bonds outstanding, 6 percent coupon, $1,000 par value, 15 years to maturity, selling for 102 percent of par; the bonds make semiannual coupon payments. Common stock:300,000 shares outstanding, selling for $56 per share; the beta is 2.20. The company's tax rate is 25 percent. The market risk premium (MRP) is7.0 percent and the risk free rate is 3.0 percent. Find the company's weighted average cost of Capital (WACC)

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