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You are looking at the following information: Debt:2,500 8.5 percent coupon bonds outstanding, $1,000 par value,21 years to maturity, selling for 104 percent of par; the bondsmake semiannual payments. Common stock:62,500 shares outstanding, selling for $61 per share; the betais 1.1. Preferred stock:8,000 shares of 7 percent preferred stock (review my Ch.8slide 43: what does "...% preferred stock" phrase mean?)outstanding, currently selling for $106 per share. Market:10 percent market risk premium and 6.5 percent risk-freerate. The company is in the 31 percent tax rate bracket based on itscorporate income. Required: Find the WACC. (Do not round your intermediatecalculations.)rev: 09_20_2012Multiple Choice12.36%11.96%12.86%12.13%11.86%Next Visit question mapQuestion4of10Total4 of 10Prev