The following information relates to the a division of eco enterprises:

interest rate on debt capital: 9%
cost of equity capital: 13%
market value of debt capital: $49 million
market value of equity capital: $79 million
income tax rate: 40%

on the basis of this information, atlas's weighted-average cost of capital is closest to (do not round your intermediate calculations.):

WACC = Ke (E/V) + kd (D/V)(1-T)

              WACC = 13(79/128) + 9(49/128)(1-0.4)

              WACC = 8.0234375 + 3.4453125(0.6)

              WACC = 10.09%

The weighted average cost of capital of the firm is 10.09%

Explanation: Atlas's weighted average cost of capital is equal to cost of equity multiplied by the ratio of equity to value of the company plus after-tax cost of debt multiplied by the ratio of debt to value of the company.

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