Question: Question 5 8 pts Meyer & Co. expects its EBIT to be $71,750 every year forever. The firm can borrow at 9 percent. Meyer currently

Question 5 8 pts Meyer & Co. expects its EBIT to

Question 5 8 pts Meyer & Co. expects its EBIT to be $71,750 every year forever. The firm can borrow at 9 percent. Meyer currently has no debt, and the cost of assets is 14 percent, and the tax rate is 20 percent. The company borrows $200,000 and uses the proceeds to repurchase shares. What is the weighted average cost of capital? (Please, do not round intermediate calculations. Provide your final answer as a percent rounded to 2 decimal places with no percentage symbol (%))

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