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The firm's book value of equity totals $25,000,000. The firms capital structure is 40% equity and 60% long-term debt. The debt carries an average interest

The firm's book value of equity totals $25,000,000. The firms capital structure is 40% equity and 60% long-term debt. The debt carries an average interest rate of 6% (after-tax), and last years net income was $2,750,000. What was the firms weighted average cost of capital?

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