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LaMont Inc. management teams attempts to actively manage its capital structure to keep the D/E ratio equal to 1.74. The firm has a tax rate

LaMont Inc. management teams attempts to actively manage its capital structure to keep the D/E ratio equal to 1.74. The firm has a tax rate of 28%. You estimate that the firm's cost of equity is 9.85% and the cost of debt is 6.95%. Given this information what is LeMont's WACC?

Answer as a percentage to two decimal places.

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