David Ortiz Motors has a target capital structure of 40% debt and 60% equity. The...
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David Ortiz Motors has a target capital structure of 40% debt and 60% equity. The yield to maturity on the company's outstanding bonds is 99 the company's tax rate is 25%. Ortiz's CFO has calculated the company's WACC as 9.3%. What is the company's cost of equity capital? Round answer to the nearest whole number.
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