Patton Paints Corporation has a target capital structure of 35% debt and 65% common equity, with no preferred stock. Its before-tax cost of debt is 8%, and its marginal tax rate is 40%. The current stock price is Po = $30. The last dividend was Do - $2.4 and it is expected to grow at a 7% constant rate. What is its weighted average cost of capital (WACC) without Issuing new common stock? (Please use 4 decimal places when doing thid question.) [Hint: The formula to calculate WACC without issuing new common stock is on Chapter 9 Power Point Slide #20, Studying Chapter 9 PowerPoint Slide #24 to #25 is helpful to answer this question) b 11.79 12.55 12914 11.41 Next Page Back Review Answers Support | Schoology Blog | PRIVACY POLICY | Terms of Us 00 so 888 DO Dn 18 FS FO - $ 4 % 5 0 > & 7 . 00 3 9 E R Y T U I O D F G I J L