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Consider a firm that has 3 9 % of debt, 8 % of preferred stock, and 5 3 % of equity. The rates of return

Consider a firm that has 39% of debt, 8% of preferred stock, and 53% of equity. The rates of return for debt, preferred stock, and equity are 3%,8%, and
18%, respectively. The corporate tax rate is 35%. What is the weighted average cost of capital? Enter your answer as a percentage and rounded to 2
DECIMAL PLACES. Do not include the percentage sign in your answer.
Enter your response below.
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