Suppose Riggley Corp. has a capital structure of 40% equity and 60% debt with the following information: a Beta of 0.7, Market Risk Premium of 5%.  Riggley's average long term debt pays a 5% annual coupon with fifteen years to maturity, currently selling for $980 (face value of $1,000).  If Riggley's tax rate is 15% and the risk free rate is 3%, what is the Weighted Average Cost of Capital?

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