Problem 13-5 Calculating WACC

Mullineaux Corporation has a target capital structure of 65 percent common stock and 35 percent debt. Its cost of equity is 16 percent, and the cost of debt is 10 percent. The relevant tax rate is 30 percent.

What is Mullineauxs WACC? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16))

WACC

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