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Oxy Corporation uses debt, preferred stock, and common stock to raise capital. The firm's capital structure targets the following proportions: debt, 48%; preferredstock, 13%; and
Oxy Corporation uses debt, preferred stock, and common stock to raise capital. The firm's capital structure targets the following proportions: debt, 48%;
preferredstock, 13%; and common stock, 39%. If the cost of debt is 6.3%, preferred stock costs 9.4%,
and common stock costs 12.7%, what is Oxy's weighted average cost of capital (WACC)?
*Round to two decimal places
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