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Problem 1 2 - 9 Taxes and WACC [ LO 3 ] Branson Manufacturing has a target debt - equity ratio of 7 0 .

Problem 12-9 Taxes and WACC [LO3]
Branson Manufacturing has a target debt-equity ratio of 70. Its cost of equity is 13 percent, and its pretax cost of debt is 6 percent. If the tax rate is 24 percent, what is the company's WACC?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
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