Miller manufacturing has a target debt-equity ratio of 55, Ask an Expert

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Miller Manufacturing has a target debt-equity ratio of .55. Its cost of equity is 14 percent, and its cost of debt is 5 percent. If the tax rate is 38 percent, 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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