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A firm has 5 , 5 0 0 , 0 0 0 shares of common stock outstanding selling for $ 8 3 each. The firm

A firm has 5,500,000 shares of common stock outstanding selling for $83 each. The firm also has two bond issues outstanding that make semiannual coupon payments; the first bond issue, that matures in 21 years, has a face value of $80,000,000, a coupon rate of 5.5%, and sells for 109% of face value. The second issue, that matures in 6 years, has a face value of $45,000,000, a coupon rate of 5.8%, and sells for 108% of face value. Suppose the most recent dividend was $3.85, the dividend growth rate is 5%, and the tax rate is 21%.
What is the firm's weighted average cost of capital? (Please, do not round your intermediate calculations; round only, if necessary, your final answer, expressed as a percentage, to two decimal places without the % symbol. Example, if your final answer calculated as x**Y, or xY, or x+Y, or x-Y, is 0.124556, enter it as 12.46)
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