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Check My Work (1 remaining) B eBook Palencia Paints Corporation has a target capital structure of 45% debt and I5% common equity, with no preferred

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Check My Work (1 remaining) B eBook Palencia Paints Corporation has a target capital structure of 45% debt and I5% common equity, with no preferred stock. Its before-tax cost of debt is 9% and its marginal tax rate is 25%. The current stock price is Po = $30.50. The last dividend was Dp - $2.75, and it is expected to grow at a constant rate What is its cost of common equity and its WACC? Do not round intermediate calculations. Round your answers to two decimal places. . WACC

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