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TAFKAP Industries has 4 million shares of stock outstanding selling at $18 per share, and an issue of $24 million in 8.0 percent annual coupon

TAFKAP Industries has 4 million shares of stock outstanding selling at $18 per share, and an issue of $24 million in 8.0 percent annual coupon bonds with a maturity of 10 years, selling at 102 percent of par. Assume TAFKAPs weighted average tax rate is 21 percent, it can make full use of the interest tax shield, and its cost of equity is 13.0 percent. What is TAFKAPs WACC?

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