20 Check my work View previous attempt Problem 19-3 WACC Consider the following information for Federated Junkyards of America. Debt: $65,000,000 book value outstanding. The debt is trading at 86% of book value. The yield to maturity is 9% Equity: 1,500,000 shares selling at $32 per share. Assume the expected rate of return on Federated's stock is 18%. Taxes: Federated's marginal tax rate is To - 0.21. Calculate the weighted average cost of capital (WACC). (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Weighted average cost of capital 16.04 %