Value Co (Value) has $200 million in debt, with a before-tax cost of debt of 8%. Value has 15 million shares outstanding, with a market price of $20 per share. Values cost of equity can be estimated using the CAPM model and data from comparable firms. Alpha Co (Alpha) and Beta Co (Beta) are equally comparable to Value. Alpha has a levered beta of 1.5 and a debt-to-equity ratio of 100%. Beta has a levered beta of 0.8 and a debt-to-equity ratio of 20%. The risk-free rate is 4% and the market risk premium is 7%. What is Values WACC? Values tax rate is 40%. (Show your work in Excel. In Excel, show numbers at the two decimal places. Copy-paste your Excel work to your answer document as an image.) (3 marks)