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Meyer & Co. expects its EBIT to be $131,000 every year f

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Meyer & Co. expects its EBIT to be $131,000 every year forever.The firm can borrow at 9 percent. The company?urrently has no debt, and its cost of equity is 15 percent and the tax rate is 22 percent. The company borrows $180,000 and uses the proceeds to repurchase shares. The cost of equity is 16.56%. What is the WACC?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)AccountingBusinessFinancial AccountingACC 311

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