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The following table presents information for Golden Fleece Financial. Long-term debt outstanding $460,000 Current yield to maturity 8.508 on debt Number of shares of common

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The following table presents information for Golden Fleece Financial. Long-term debt outstanding $460,000 Current yield to maturity 8.508 on debt Number of shares of common stock 18,000 Price per share $ 66 Book value per share $ 41 Expected rate of return 16.00 on stock Calculate the company cost of capital. (Ignore taxes. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Cost of capital

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