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Reactive Power Generation has the following capital structure. Its corporate tax rate is 21%. Security Market Value Required Rate of Return Debt $ 30 million

Reactive Power Generation has the following capital structure. Its corporate tax rate is 21%.

Security Market Value Required Rate of Return
Debt $ 30 million 6 %
Preferred stock 30 million 8
Common stock 40 million 12

What is its WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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