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The cost of equity capital for Moderna is 12.9 percent and its pretax cost of debt is 7.3 percent. If the tax rate for the

The cost of equity capital for Moderna is 12.9 percent and its pretax cost of debt is 7.3 percent. If the tax rate for the firm is 39 percent and its WACC is 8.14%, the debt to equity ratio for Moderna is:

0.15

0.56

1.29

0.44

0.85

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