Question: Step by Step: please show detailed step by stemp im dumb when it comes to Finance lol Vedder, Inc., has 5 million shares of common

Step by Step: please show detailed step by stemp im dumb when it comes to Finance lol

Vedder, Inc., has 5 million shares of common stock outstanding. The current share price is $73, and the book value per share is $9. Vedder also has two bond issues outstanding. The first bond issue has a face value of $60 million, a coupon rate of 7 percent, and sells for 98 percent of par. The second issue has a face value of $40 million, a coupon rate of 6.5 percent, and sells for 97 percent of par. The first issue matures in 20 years, the second in 12 years. The most recent dividend was $2.85 and the dividend growth rate is 6 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 35 percent.

Required:

What is the companys WACC?

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