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Given the following information for Magrath Power Co., find the WACC. Assume the company's tax rate...

Given the following information for Magrath Power Co., find the WACC. Assume the company's tax rate is 35 percent. Debt: 10,000 with 6.4%coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 108 percent of par; the bonds make semiannual payments. Common stock: 495,000 shares outstanding, selling for $63 per share; the beta is 1.15. Preferred stock: 35,000 shares of 3.5% preferred stock outstanding, currently selling for $72 per share. Market: 7% market risk premium and 3.2 percent risk-free rate.

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