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Maverick Manufacturing has a target debt-equity ratio of 0.47. Its cost of equity is 12 %, and its cost of debt is 8 %. If

Maverick Manufacturing has a target debt-equity ratio of 0.47. Its cost of equity is 12 %, and its cost of debt is 8 %. If the tax rate is 37 %, what is Maverick's WACC? (Report answer in percentage terms and round to 2 decimal places. Do not round intermediate calculations).

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