Barles Charkley Resorts, a hotel chain located in the Annapolis, has expected earnings before interest and taxes
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Barles Charkley Resorts, a hotel chain located in the Annapolis, has expected earnings before interest and taxes of $11.3 million. Its unlevered cost of capital is 18.8 percent and its tax rate is 31 percent. The firm has debt with both a book and a market value of $14.0 million. This debt has a 10.9 percent coupon and pays interest annually. What is the firm's weighted average cost of capital?
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