The WACC of First Merchants Corp (FRME) is 8.5%.
| Range | Selected | |
| Cost of equity | 8.10% - 10.10% | 9.10% |
| Tax rate | 13.50% - 14.10% | 13.80% |
| Cost of debt | 5.00% - 5.00% | 5.00% |
| WACC | 7.6% - 9.4% | 8.5% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 0.91 | 0.93 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 8.10% | 10.10% |
| Tax rate | 13.50% | 14.10% |
| Debt/Equity ratio | 0.14 | 0.14 |
| Cost of debt | 5.00% | 5.00% |
| After-tax WACC | 7.6% | 9.4% |
| Selected WACC | 8.5% | |