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Answers must be posted with formulas so please provide the formulas, thank you!! Johnny Cake Ltd. has 8 million shares of stock outstanding selling at

Answers must be posted with formulas so please provide the formulas, thank you!!

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Johnny Cake Ltd. has 8 million shares of stock outstanding selling at $22 per share and an issue of $40 million in 10 percent annual coupon bonds with a maturity of 17 years, seling at 94.0 percent of par. Assume Johnny Cake's weighted-average tax rate is 34 percent, its next dividend is expected to be $3 per share, and all future dividends are expected to grow at 5 percent per year, indefinitely. What is its WACC? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Shares outstanding Price per share Face value of outstanding bond issue 40,000,000 Coupon rate on bonds Maturity of bonds Price of bonds (% of par) Weighted-average tax rate Next expected dividend Expected dividend growth rate 8,000,000 22.00 10% 17 94.00 34.00% 3.00 5.00% Complete the fol analysis. Do not hard code values in your calculations Before-tax cost of equity Before-tax cost of debt Equity weight Debt weight WACC

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