Suppose that TapDance, Inc.’s, the capital structure features 70 percent equity, 30 percent debt and that its before-tax cost of debt is 9 percent,

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Suppose that TapDance, Inc.’s, the capital structure features 70 percent equity, 30 percent debt and that its before-tax cost of debt is 9 percent, while its cost of equity is 14 percent. Assume the appropriate weighted average tax rate is 34 percent. What will be TapDance’s WACC? (Round your answer to 2 decimal places.)

 

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