The WACC of Independent Bank Corp (Michigan) (IBCP) is 7.3%.
| Range | Selected | |
| Cost of equity | 6.70% - 8.60% | 7.65% |
| Tax rate | 18.90% - 19.30% | 19.10% |
| Cost of debt | 5.00% - 5.00% | 5.00% |
| WACC | 6.5% - 8.1% | 7.3% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 0.63 | 0.66 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 6.70% | 8.60% |
| Tax rate | 18.90% | 19.30% |
| Debt/Equity ratio | 0.12 | 0.12 |
| Cost of debt | 5.00% | 5.00% |
| After-tax WACC | 6.5% | 8.1% |
| Selected WACC | 7.3% | |