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QUESTION
Empress Corp. has no debt but can borrow at 9 percent. the firm's WACC is currently 15 percent, and the tax rate is 35 percent. a. what is the
Empress Corp. has no debt but can borrow at 9 percent. the firm's WACC is currently 15 percent, and the tax rate is 35 percent.a. what is the company's cost of equity?b. If the firm converts to 25 percent debt, what will its cost of equity be?
