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Use the following information for the next 2 questions: A corporation has 10,000 bonds outstanding with a 6% annual coupon rate, 8 years to maturity

Use the following information for the next 2 questions:

  • A corporation has 10,000 bonds outstanding with a 6% annual coupon rate, 8 years to maturity and a $1,100 market price.
  • The YTM of the bond is 4.48%. Coupons are paid annually.
  • The companys 500,000 shares of common stock sell for $25 per share and have a beta of 1.5. The risk free rate is 4%, and the market return is 15%.
  • Assuming a 21% tax rate

What is the company's WACC (%)?

Handwritten if possible. Thank you!

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