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Benjamin Manufacturing has a target debt-equity ratio of .62. Its cost of equity is 14.3 percent, and its cost of debt is 9.3 percent. Required:

Benjamin Manufacturing has a target debt-equity ratio of .62. Its cost of equity is 14.3 percent, and its cost of debt is 9.3 percent.

Required:

If the tax rate is 38 percent, what is the companys 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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