Problem 19-3 WACC Consider the following information for Federated Junkyards of America. Debt: $71,000,000 book value outstanding. The debt is trading at 93% of book valu Equity: 2,100,000 shares selling at $38 per share. Assume the expected rate of return on Federated's stock is 16%. Taxes: Federated's marginal tax rate is Tc = 0.21. Calculate the weighted average cost of capital (WACC), (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighted average cost of capital %