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Bartlett Company's target capital structure is 20% debt, 20% preferred, and 60% common equity. The after-tax cost of debt is 5.00%, the cost of preferred

Bartlett Company's target capital structure is 20% debt, 20% preferred, and 60% common equity. The after-tax cost of debt is 5.00%, the cost of preferred is 6.50%, and the cost of common using retained earnings is 12.00%. The firm will not be issuing any new stock. You were hired as a consultant to help determine their cost of capital. What is its WACC?

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