Miller manufacturing has a target debtndashequity ratio of, Ask an Expert

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Miller Manufacturing has a target debt–equity ratio of .45. Its cost of equity is 14 percent, and its cost of debt is 5 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.)

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