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A firm's capital structure is composed of the following sources and after-tax costs: 30% long-term debt (cost 6%), 10% preferred stock (cost 8%), and 60%

A firm's capital structure is composed of the following sources and after-tax costs: 30% long-term debt (cost 6%), 10% preferred stock (cost 8%), and 60% common stock (cost 14%). The weighted average cost of capital is:

1) 10

2) 11

3) 12

4) 13

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