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A firm is financed with 328 debt, 682 common equity and 489 preferred equity. The before-tax cost of debt is 5%, the firm's cost of
A firm is financed with 328 debt, 682 common equity and 489 preferred equity. The before-tax cost of debt is 5%, the firm's cost of common equity is 15%, and that of preferred equity is 10%. The marginal tax rate is 30%. What is the firm's weighted average cost of capital, in decimal form, precise to 2 digits after the comma?
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