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Assume you have the following information about a firm: 50 million shares outstanding; $80 price per...

Assume you have the following information about a firm: 50 million shares outstanding; $80 price per share; beta = 1.2; $1 billion in outstanding debt currently valued at 110%; coupon rate of debt = 8% (semiannual coupons); 15 years to maturity; market risk premium = 8%; risk-free rate = 3%; corporate tax rate = 35%. Given the above information, the weighted average cost of capital (WACC) for the frim would be ______%.

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