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6. Elway Electronics has debt with a market value of $350,000,preferred stock with a market value of $150,000, and common stockwith a market value of $450,000. If debt has a cost of 8%,preferred stock has a cost of 10%, common stock has a cost of 12%,and the firm has a tax rate of 30%, what is the WACC?a. 8.64%b. 9.12%c. 9.33%d. 10.04%PLEASE SHOW WORK
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