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Clemson Corporation has a target capital structure of 65 percent common stock, 8 percent preferred stock, and the remainder is debt. Its cost of equity

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Clemson Corporation has a target capital structure of 65 percent common stock, 8 percent preferred stock, and the remainder is debt. Its cost of equity is 11.71 percent, the cost of preferred stock is 4.62 percent, and the pretax cost of debt is 6.28 percent. The relevant tax rate is 25 percent. The company's WACC is . Answer to four decimal places. e.g. 0.1234

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