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The company Mining Inc. maintains a debt-equity ratio of 1.0. The cost of equity for Mining Inc. is 15% and the after-tax weighted average cost
The company Mining Inc. maintains a debt-equity ratio of 1.0. The cost of equity for Mining Inc. is 15% and the after-tax weighted average cost of capital is 11%. The effective corporate tax rate is 30%. The before-tax cost of debt can be estimated to be closest to (to two decimal places)?
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