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Consider a firm that has a debt-equity ratio of 1/4. The rate of return for debt is 8% and the rate of return for equity

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Consider a firm that has a debt-equity ratio of 1/4. The rate of return for debt is 8% and the rate of return for equity is 12%, The corporate tax rate is 40%. 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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