Question: (CHAPTER 14) Waco Taco located in Waco, TX has a complex capital structure to run its taco business. TACOS It uses equity, preferred stock, and

 (CHAPTER 14) Waco Taco located in Waco, TX has a complex

(CHAPTER 14) Waco Taco located in Waco, TX has a complex capital structure to run its taco business. TACOS It uses equity, preferred stock, and debt in equal proportions. The annual costs of equity, preferred stock, and debt equal 11%, 8%, and 6%, respectively. Waco Taco falls into 29% corporate income tax bracket. Calculate Waco Taco's average annual cost of running its taco business, also known as the Weighted Average Cost of Capital. Your answer should be in %, not in decimals: e.g., 10.23 rather than 0.1023. Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher, and only round your final answer to TWO decimal places: for example, 10.23. Do NOT use "%" in your

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