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A project is financed 30% with a loan with 9% interest. The rest is financed with a share issue. The share price is currently $

A project is financed 30% with a loan with 9% interest. The rest is financed with a share issue. The share price is currently $ 20 and they expect to pay out $ 3 in dividends next year and increase it 4% annually. The company has a tax rate of 40%. Determine the weighted average cost of capital.
 

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