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A firm's Debt-to-Equity ratio is 1.0. The before-tax cost of debt is 6%; R = 3%; beta=1.2: the market return =8%; and the tax rate

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A firm's Debt-to-Equity ratio is 1.0. The before-tax cost of debt is 6%; R = 3%; beta=1.2: the market return =8%; and the tax rate is 31%. The firm's WACC (weighted average cost of capital) = %. (Note: please retain at least 6 decimal places in your calculations and at least 2 decimal places in your final answer.)

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