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AJAX Corp. has $1300 in debt outstanding and $2700 in common stock (and no preferred stock). Its marginal tax rate is 40%. Marie's bonds have a YTM of 8.00%. The current stock price (Po) is $49. Next year's dividend is expected to be $2.20, and it is expected to grow at a constant rate of 4% per year forever. The company's W.A.C.C. is ____%. Round your final answer to 2 decimal places

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Reference no: EM131044601

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