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