Some of Mergen's financial information can be found in the following table. Using the capital asset pricing model. Mere's ? Do not use industry debt-to- ecultyranla weighted average cost of capital (WACC) for its typical project is closest to Write your answer in percentage form, and round your answer to 2 decimal places. For example, write 77 45 instead of 0.77 Equity risk premium 5:35 percent Risk free rate of interest 3.42 percent Industry debt-toequity ratio 0.4 Market value of Mergen's debt 711 million Market value of Mergen's equity 23 billion Mergen's equity beta 13 Mergen's before-tax cost of debt 8.69 percent Corporate tax rate 31.84 percent