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Using detailed procedure to solve this question: FINA Corp's cost of equity is 11%. The total shares outstanding of FINA is 20 million. The stock

Using detailed procedure to solve this question:

FINA Corp's cost of equity is 11%. The total shares outstanding of FINA is 20 million. The stock price now is $5 per share. The cost of debt is 3%, and the tax rate is 20%. The current market value of the debt is $25M. What is the WACC of FINA?

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