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Orange plc has an average market cost of borrowing of 7% per year and an equity beta of 1.2. Orange has a consistent ratio of

Orange plc has an average market cost of borrowing of 7% per year and an equity beta of 1.2. Orange has a consistent ratio of debt to equity of 2:1 and a tax rate of 30%. The expected return on the market portfolio is 15% and the expected risk-free rate is 4%. Calculate the WACC for orange.

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