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RiverRocks (see Problem 19), whose WACC is 12%, is considering an acquisition of Raft Adventures (whose WACC is 15%). What is the appropriate discount rate

RiverRocks (see Problem 19), whose WACC is 12%, is considering an acquisition of Raft Adventures (whose WACC is 15%). What is the appropriate discount rate for RiverRocks to use to evaluate the acquisition? Why?

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