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A firm has a target capital structure consisting of 40% debt, 49% preferred stock and the rest retained earnings. The cost of debt (after tax)

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A firm has a target capital structure consisting of 40% debt, 49% preferred stock and the rest retained earnings. The cost of debt (after tax) is 2.8%, the cost of preferred stock is 5.6% and the cost of retained earnings is 11.4%. What is the WACC of this firm? Answer in \% without the symbol. Answer: 0(5.1)

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