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please show work Nipigon Manufacturing has a cost of debt of 9%, a cost of equity of 11%, and a cost of preferred stock of
please show work
Nipigon Manufacturing has a cost of debt of 9%, a cost of equity of 11%, and a cost of preferred stock of 10%. Nipigon currently has 120,000 shares of common stock outstanding at a market price of $25 per share. There are 49,000 shares of preferred stock outstanding at a market price of $38 a share. The bond issue nas a face value of $950,000 and a market quote of 106 . The company's tax rate is 40%. Required: Calculate the weighted average cost of capital for Nipigon. You must show and clearly label all calculations to receive full marks. You can enter your calculations n the space provided below or you can upload them to the drop box provided in the Assignments areaStep by Step Solution
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