Lewiston Industries finances its operations with $30,000,000 in debt and $45,000,000 in stockholders' equity. The debt carries
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Lewiston Industries finances its operations with $30,000,000 in debt and $45,000,000 in stockholders' equity. The debt carries a 7.5% interest rate, and stockholders require a 14% return.
Required
What is Lewiston's weighted-average cost of capital?
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