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Caddie Manufacturing has a target debt-equity ratio of .60. Its cost of equity is 11 percent, and its pretax cost of debt is 6 percent.

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Caddie Manufacturing has a target debt-equity ratio of .60. Its cost of equity is 11 percent, and its pretax cost of debt is 6 percent. If the tax rate is 22 percent, what is the company's WACC? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) WACC %

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