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ANZ Industries has 20 million shares of common stock outstanding with a market price of $20.00 per share. The company also has 4 million preferred
ANZ Industries has 20 million shares of common stock outstanding with a market price of $20.00 per share. The company also has 4 million preferred shares with a market price of $10. The company has 100,000 bonds selling at $950. The cost of equity is 12 percent, the cost of preferred is 9 percent, and the cost of debt is 7 percent before tax. If ANZ's tax rate is 30 percent, what is the WACC?
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