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You are given the following information for Huntington Power Co. Assume the company’s tax rate is 35 percent. Debt: 6,000 7.3 percent coupon bonds outstanding, $1,000 par value, 15 years to maturity, selling for 109 percent of par; the bonds make semiannual payments. Common stock: 450,000 shares outstanding, selling for $63 per share; the beta is 1.06. Market: 12 percent market risk premium and 5.30 percent risk-free rate. What is the company's WACC? (Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16))

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91619621

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