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		WEIGHTED AVERAGE COST OF CAPITAL (WACC)
		CAPM-based cost of equity with Hamada beta unlevering
		Cost of Equity (CAPM)
		Risk-Free Rate (Rf)	4.20%	10-Year US Treasury
		Equity Risk Premium (ERP)	5.50%	Damodaran ERP
		Beta (Levered)	1.15
		Size Premium	1.00%
		Company-Specific Risk Premium	0.50%
		Cost of Equity (Ke)	12.03%	Rf + Beta x ERP + SP + CSRP
		Cost of Debt
		Pre-Tax Cost of Debt	5.50%
		Marginal Tax Rate	25.00%
		After-Tax Cost of Debt (Kd)	4.13%	Kd(pre-tax) x (1 - Tax Rate)
		Capital Structure
		Market Cap ($mm)	2,200
		Total Debt ($mm)	500
		Total Capital ($mm)	2,700
		Equity Weight (We)	81.5%
		Debt Weight (Wd)	18.5%
		WACC Calculation
		WACC	10.56%	We x Ke + Wd x Kd(1-t)
		WACC Component Breakdown
		Equity Contribution to WACC	9.80%
		Debt Contribution to WACC	0.76%
		Equity % of WACC	92.8%
		Debt % of WACC	7.2%
		Note: WACC inputs sourced from Assumptions sheet. Cost of equity uses CAPM with size and company-specific premia.