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The Black Bird Company plans an expansion.

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The Black Bird Company plans an expansion. The expansion is to be
financed by selling $115 million in new debt and $200 million in new common stock. The before-tax required rate of return on debt is 6.06% percent and the required rate of return on equity is 16.02% percent. If the company is in the 34 percent tax bracket, what is the weighted average cost of capital?
Round the answer to two decimal places in percentage form.

 
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