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26-04-2024
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Garden Tools Inc. has bonds, preferred stock, and common stocks outstanding. The number of securities, the current market price, and the required rate of return for these securities are stated in the table below. The firm's tax rate is 35%. Calculate the firm's WACC adjusted for taxes using the market information in the table. Round the answer to two decimal places in percentage form.
The Number of Securities Outstanding Selling Price The Required Rate of Retun
Bonds 1,333 $992 9.86%
Preferred Stocks 5,751 $76.44 16.75%
Common Stocks 1,510 $106.83 10.23%

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