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You are given the following information for Cleen Power Co. Assume the company's tax rate is 34 percent. Debt: 5,000 6 percent coupon bonds outstanding,
You are given the following information for Cleen Power Co. Assume the company's tax rate is 34 percent. Debt: 5,000 6 percent coupon bonds outstanding, $1,000 par value, 20 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. Common stock: 320,000 shares outstanding, selling for $50 per share; the beta is 1.06. Market: 5 percent market risk premium and 4 percent risk-free rate. What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) WACC %
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