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Southern Electric has 23,000 shares of common stock outstanding at a price per share of $57, and a required rate of return of 14.2 percent.

image text in transcribed Southern Electric has 23,000 shares of common stock outstanding at a price per share of $57, and a required rate of return of 14.2 percent. The outstanding debt has a total face value of $350,000 and currently sells for 108 percent of face. The yield to maturity on the debt is 8.49 percent. What is the firm's weighted average cost of capital if the tax rate is 34 percent

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