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Caddie Manufacturing has a target debt - equity ratio of . 6 5 . Its cost of equity is 1 2 percent, and its pretax

Caddie Manufacturing has a target debt-equity ratio of .65. Its cost of equity is 12 percent, and its pretax cost of debt is 6 percent. If the tax rate is 23 percent, what is the companys WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)

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