Manufacturing has target debt–equity ratio

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Miller Manufacturing has a target debt–equity ratio of .50. Its cost of equity is 13 percent, and its cost of debt is 7 percent. If the tax rate is 40 percent, what is the company’s WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Reference no: EM131319492

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