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Axon Industries needs to raise $22.69M for a new invesiment project. If the firm issues one-year debt, it may haveto pay an interest rate of
Axon Industries needs to raise $22.69M for a new invesiment project. If the firm issues one-year debt, it may haveto pay an interest rate of 9.38%, although Axon's managers believe that 5.36% would be a fair rate given the lovel of risk. If the firm issues 6quity. they believe the equity may be underpriced by 11.92%. What is the cost to current shareholders of financing the project out of Equity? NOTE: Provide your answers in Millions, E.G. for 100M you must enter 100.0000, for 20M you must enter 20.0000,0tc
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