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(Weighted average Cost of Capital) Toy Masters Inc. has a target capital structure of 45% debt,...

(Weighted average Cost of Capital) Toy Masters Inc. has a target capital structure of 45% debt, 35% preferred stock, and 20% Common Stock. The before-tax costs of debt, preferred stock, and common stock are 7%, 9%, and 15%, respectively. What is Toy Masters’ after-tax WACC? Assume a 40% tax rate

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