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Caspian Sea Drinks' is financed with 7 0 . 0 0 % equity and the remainder in debt. They have 1 0 . 0 0

Caspian Sea Drinks' is financed with 70.00% equity and the remainder in debt. They have 10.00-year, semi-annual pay, 5.13% coupon bonds which sell for 98.05% of par. Their stock currently has a market value of $24.55 and Mr. Bensen believes the market estimates that dividends will grow at 3.85% forever. Next year's dividend is projected to be $2.97. Assuming a marginal tax rate of 27.00%, what is their WACC (weighted average cost of capital)?
Answer format: Percentage Round to: 2 decimal places (Example: 9.24%,% sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
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