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Icarus Limited is contemplating various finance options for an upcoming project. It can access additional...

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Accounting

Icarus Limited is contemplating various finance options for an upcoming project. It can access additional finance at 7% per annum. Economic modelling indicates that shareholders expect a minimum return of 13%. The corporate tax rate is 30%.

Calculate, to two decimal places, the weighted average cost of capital (WACC) if Icarus Limited uses debt to finance 57% of this project.

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