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problem: Phil's Carvings, wants to have a weighted average cost of capital of 9 percent. The firm has an after-tax cost of debt of 5 percent & a cost of equity of 11 percent. find out debt-equity ratio is required for the firm to achieve its targeted weighted average cost of capital? 

[A]     .50

[B]    .60

[C]     .67

[D]     .33

[E]    .40

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