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Assume Skyler Industries has debt of $4,547,009 with a cost of capital of 9.9% and equity of $5,327,254 with a cost of capital of 8.5%.

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Assume Skyler Industries has debt of $4,547,009 with a cost of capital of 9.9% and equity of $5,327,254 with a cost of capital of 8.5%. What is Skyler's weighted average cost of capital for debt? Round to the nearest hundredth, two decimal places and submit the answer in a percentage

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