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A firm currently has a debt-equity ratio of 1/3. The debt, which is virtually riskless, pays an interest rate of 9%. The expected rate

A firm currently has a debt-equity ratio of 1/3. The debt, which is virtually riskless, pays an interest rate of 9%. The expected rate of return on the equity is 14 %. 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. Do not include the percentage sign in your answer. WACC = Number

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