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Phil's Carvings wants to have a Weighted Average Cost of Capital of 9.50 percent. The firm has an after-tax cost of debt of 6.5 percent

Phil's Carvings wants to have a Weighted Average Cost of Capital of 9.50 percent. The firm has an after-tax cost of debt of 6.5 percent and a cost of equity of 12.75 percent. What Debt-Equity ratio is needed for the firm to achieve its targeted WACC?

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