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Benjamin Manufacturing has a target debt-equity ratio of 45. Its cost of equity is 12 percent, and its cost of debt is 7 percent. Required:

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Benjamin Manufacturing has a target debt-equity ratio of 45. Its cost of equity is 12 percent, and its cost of debt is 7 percent. Required: If the tax rate is 35 percent, what is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).) WACC

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