Jonathans Tidbits is an entertainment service. It has anunleveraged required ret

Jonathans Tidbits is an entertainment service. It has anunleveraged required return of r = 23%. Jonathans rebalances itsleverage each year to a target of L = 0.52 and T* = 0.20. Jonathancan borrow currently at a rate of rd = 16%. What is JonathansWACC?A. about 21.54%B. about 19.54%C. about 21.24%D. about 22.24%