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Maine Co has 250 million equity shares of $1 in issue, and $300 million of 12% irredeemable debt, with a current market value of 126.25. The cost of equity is 14% and the rate of tax is 30%. The current market value of the shares is $3 each. What is the weighted average cost of capital, to the nearest single decimal place? A. 12.4% B. 12.1% C. 11.5% D. 13.3% |