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A firm currently has a debt - equity ratio of 3 / 5 . The debt, which is virtually riskless, pays an interest rate of

A firm currently has a debt $-$ equity ratio of $3 / 5 .$ The debt, which is virtually riskless, pays an interest rate of $7 % .$ The expected rate of return on the equity is $16 % .$ What is the Weighted $-$ Average Cost of Capital if the firm pays no taxes? Enter your answer as a percentage rounded to two decimal places.

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