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The following table presents information for Golden Fleece Financial. Long-term debt outstanding Current yield to maturity on debt Number of shares of common stock Price

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The following table presents information for Golden Fleece Financial. Long-term debt outstanding Current yield to maturity on debt Number of shares of common stock Price per share Book value per share Expected rate of return on stock $350,000 9.00% 12,500 $ 55 $ 30 18.00 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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