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You are given the following information for Huntington Power Co.Assume the company’s tax rate is 25 percent. Debt: 22,000 5 percentcoupon bonds outstanding, $2,000 par value, 25 years to maturity,selling for 107 percent of par; the bonds make semiannual payments.Common stock: 430,000 shares outstanding, selling for $68 pershare; the beta is .93. Market: 7 percent market risk premium and3.3 percent risk-free rate. What is the company's WACC? (Do notround intermediate calculations and enter your answer as a percentrounded to 2 decimal places, e.g., 32.16.)
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