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Suppose that Topstone Industries has a cost of equity of 12% and a cost of debt (YTM) of 7%. If the target debt/equity ratio is

Suppose that Topstone Industries has a cost of equity of 12% and a cost of debt (YTM) of 7%. If the target debt/equity ratio is 60%, and the tax rate is 34%, what is Topstone's weighted average cost of capital WACC)? 5.64% 676% O 7.59% O 9.14% 9.23%

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