Shipley Pharmaceuticals has a new project that will require…
Shipley Pharmaceuticals has a new project that will require funding of $5 million. The company has decided to pursue an all-debt scenario. They have made an agreement with four lenders for the needed financing. These lenders will advance the following amounts and interest rates: Lender Amount Interest Rate Stevens $1,500,000 11% Yang $1,200,000 9% Shepherd $1,000,000 7% Bailey $ 300,000 8% What is the WACC for the $5,000,000? Do not round calculations until the final answer. [BLANK-1]
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