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A firm has a capital structure with $ 4 4 million in equity and $ 6 1 million of debt. The cost of equity capital

A firm has a capital structure with $44 million in equity and $61 million of debt. The cost of equity capital is 12.29% and the pretax cost of debt is 6.83%. If the marginal tax rate of the firm is 28.22% compute the weighted average cost of capital of the firm.
Enter your answer in percent and round to the nearest one-hundredth of a percent. Do not include the percent sign (%).

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