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How did they get his answer using WACC ? Assume that you are on the financial staff of Candareen Inc., and you have collected the

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How did they get his answer using WACC ?
Assume that you are on the financial staff of Candareen Inc., and you have collected the following data: The yield on the company's outstanding bonds is 7.75%. its tax rate is 40%, the next expected dividend is $0.65 a share, the dividend is expected 10 grow at a constant rate of 6.00% a year, the once of the stock is $15.00 per share, the flotation cost for selling new shares is F = 10% and the target capital structure is 45% debt and 55% common equity. What is the firm's WACC, assuming it must issue new stock to finance its capital budget

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