Joe has another get-rich-quick idea but he needs funding to

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Joe has another get-rich-quick idea, but he needs funding to support it. He chooses an all-debt funding scenario. He will borrow $2,500 from Wendy, who will charge him 6% on the loan. He will also borrow $1873 from Bebe, who will charge him 8% on the loan, and $1,627 from Shelly, who will charge him 14% on the loan. What is the weighted average cost of capital for Joe?

Reference no: EM13618558

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