You are given the following information for Lightning Power Company. Assume the company's tax rate is...
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You are given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent. Debt: Common stock: Preferred stock: Market: 6,000 5.5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. 390,000 shares outstanding, selling for $57 per share; beta is 1.14. 16,500 shares of 3.3 percent preferred stock outstanding, a $100 par value, selling for $78 per share. 5 percent market risk premium and 4.3 percent risk-free rate. What is the company's WACC? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal plates, e.g., 32.16. WACC % You are given the following information for Lightning Power Company. Assume the company's tax rate is 21 percent. Debt: Common stock: Preferred stock: Market: 6,000 5.5 percent coupon bonds outstanding, $1,000 par value, 21 years to maturity, selling for 103 percent of par; the bonds make semiannual payments. 390,000 shares outstanding, selling for $57 per share; beta is 1.14. 16,500 shares of 3.3 percent preferred stock outstanding, a $100 par value, selling for $78 per share. 5 percent market risk premium and 4.3 percent risk-free rate. What is the company's WACC? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal plates, e.g., 32.16. WACC %
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