Intro

Munding Corp. has debt with a market value of $$23$ million and equity with a market value of $$59$ million. Its pretax cost of debt is $6\%$ and its cost of equity is $12\%.$ The firm's marginal tax rate is $21\%.$

Part $1$

Attempt $\frac{1}{10}$ for $0\mathrm{.}9$ pts$.$

What is the company's cost of capital?

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