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Exercise SIROM Scientific Solutions has $5 million of outstanding equity and $5 million of bank debt. The bank debt costs 4% per year. The cost

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Exercise SIROM Scientific Solutions has $5 million of outstanding equity and $5 million of bank debt. The bank debt costs 4% per year. The cost for equity is 20%. Compute the weighted average cost of capital if the firm's tax rate is 35%

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