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WACC . Grey's Pharmaceuticals has a new project that will require funding of $4.1 million. The company has decided to pursue an all-debt scenario. Grey's
WACC. Grey's Pharmaceuticals has a new project that will require funding of $4.1 million. The company has decided to pursue an all-debt scenario. Grey's has made agreements with four lenders for the needed financing. These lenders will advance the following amounts at the interest rates shown:
Lender | Amount | Interest Rate |
| ||
Steven | $1,502,878 | 13% | |||
Yang | $1,207,383 | 11% | |||
Shepherd | $976,775 | 9% | |||
Bailey | $412,964 | 10% |
What is the weighted average cost of capital for the $4,100,000? ________% (Round to two decimal places.)
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