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Dani Corporation has 7 . 7 million shares of common stock outstanding. The current share price is $ 4 7 , and the book value
Dani Corporation has million shares of common stock outstanding. The current share price is $ and the book value per share is $ The company also has two bond is'sues outstanding. The first bond issue has a face value of $ million, a coupon rate of
a percent, and sells for percent of par. The second issue has a face value of $ million, a coupon rate of percent, and sells for percent of par. The first issue matures in years, the second in years.
The company's stock has a beta of The riskfree rate is percent, and the market risk premium is percent. Assume that the overall cost of debt is the weighted average implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is percent. What is the company's WACC?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to decimal places, eg
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