"Phillips Equipment has 80,000 bonds outstanding that are selling at par. Face value of the bonds is $1000. Bonds with similar characteristics are yielding 7.5%. The company also has 750,000 shares of 7% preferred stock (stated value=$100) and 2.5 million shares of common stock outstanding. The preferred stock sells for $65 a share. The common stock has a beta of 1.34 and sells for $42 a share. The U. S. Treasury bill is yielding 2.8% and the return on the market is 11.2%. The corporate tax rate is 38%. What is the firm's weighted average cost of capital?"

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

answer; ///deficit;

answer/// sequence of operations that requires the longest time for completion';