Finding the WACC Given the following information for Huntington Power Co., find the WACC. Assume the company’s tax rate is 35 percent.
| Debt: | 5,000 6 percent coupon bonds outstanding, $1,000 par value, 25 years to maturity, selling for 105 percent of par; the bonds make semiannual payments. |
| Common stock: | 175,000 shares outstanding, selling for $58 per share; the beta is 1.10. |
| Market: | 7 percent market risk premium and 5 percent risk-free rate |
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