Question: will give a thumbs up if correct. please show steps so i can understand. Thanks in advance! Caspian Sea Drinks' is financed with 63.00% equity

will give a thumbs up if correct. please show steps so i can understand. Thanks in advance!

Caspian Sea Drinks' is financed with 63.00% equity and the remainder in debt. They have 12.00 -year, semi-annual pay, 5.78% coupon bonds which sell for 98.55% of par. Their stock currently has a market value of $25.46 and Mr. Bensen believes the market estimates that dividends will grow at 3.64% forever. Next year's dividend is projected to be $2.84. Assuming a marginal tax rate of 33.00%, what is their WACC (weighted average cost of capital)? Answer format: Percentage Round to: 2 decimal places (Example: 9.24%,% sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

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