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Consider the following information for GM. GM's cost of equity is 12.9% and the cost of debt is 4.9%. GM's capital structure is currently composed

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Consider the following information for GM. GM's cost of equity is 12.9% and the cost of debt is 4.9%. GM's capital structure is currently composed of $38 billion in debt and $35 billion equity. The marginal tax rate is 21%. GM wishes to hold constant its debt to equity ratio when considering financial for new projects. What is GM's weighted average cost of capital? Please report your answer in percent terms rounded to two decimal places

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