Here is some information about Stokenchurch Inc.:
(Can you please show how to do without Excel, and if I can use my HP12C and any of the finance keys, can you please show how?)
Beta of common stock = 1.6
Treasury bill rate = 4%
Market risk premium = 6.9%
Yield to maturity on long-term debt = 8%
Book value of equity = $380 million
Market value of equity = $760 million
Long-term debt outstanding = $760 million
Corporate tax rate = 35%
What is the company's WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)