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Question 16 (1 point) A firm has an effective (after-tax) cost of debt of 3%, and its weight of debt is 40%. Its equity cost

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Question 16 (1 point) A firm has an effective (after-tax) cost of debt of 3%, and its weight of debt is 40%. Its equity cost of capital is 11%, and its weight of equity is 60%. Calculate the firm's weighted average cost of capital (WACC). [Enter your answer as a decimal rounded to four decimal places.]

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