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Turnbull Company is considering a project that requires an initial investment of $570,000.00. The firm will raise the $570,000.00 in capital by issuing $230,000.00 of
Turnbull Company is considering a project that requires an initial investment of $570,000.00. The firm will raise the $570,000.00 in capital by issuing $230,000.00 of debt at a before-tax cost of 11.10%, $20,000.00 of preferred stock at a cost of 12.20%, and $320,000.00 of equity at a cost of 14.70%. The firm faces a tax rate of 40%. The WACC for this project is ______.
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