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FDR Industries has 50 million shares of stock outstanding selling at $30 per share and an issue of $200 million in 9.5 percent, annual coupon
FDR Industries has 50 million shares of stock outstanding selling at $30 per share and an issue of $200 million in 9.5 percent, annual coupon bonds with a maturity of 10 years, selling at 97 percent of par ($1,000). If FDR's weighted average tax rate is 21 percent and its cost of equity is 16 percent, what is FDR's WACC?
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12.75 percent
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15.07 percent
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14.88 percent
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15.11 percent
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