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Penny Lane has 1 million shares of common stock outstanding with a current market price per share of $ 2 2 . The firm has

Penny Lane has 1 million shares of common stock outstanding with a current market price per share of $22. The firm has outstanding debt with a total market value of $27,000,000. What capital structure weight would you use for debt when calculating the firm's WACC?
A.0.601
B.0.551
C.0.651
D.0.449

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