Question: Please adhere EXACTLY to the rounding instructions (in red), the answer will incorrect if you do not. Thank you! DQuestion 22 6 pts Renegade Corp.

Please adhere EXACTLY to the rounding instructions (in red), the answer will incorrect if you do not. Thank you!

Please adhere EXACTLY to the rounding instructions (in red), the answer will

DQuestion 22 6 pts Renegade Corp. just paid an annual dividend in the amount of $1.35 per share. The dividend growth rate is 3%. Renegade's stock is currently selling at $36 per share and there are 210,000 shares outstanding. Renegade also has 6,000 bonds outstanding that are selling at 99% of par. The bonds carry a 6.8% coupon, pay interest semi-annually, and mature in 11 years. The company's tax rate is 33%. What is Renegade's weighted average cost of capital? (Report answer in percentage terms and round to 2 decimal places. Do not round intermediate calculations)

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