Statement Problem To estimate Nike`s cost of capital, Joanna Cohen calculated the weighted average cost of capital (WACC) of 8.4%. However, she made error to estimate the WACC so the WACC (8.4%) is measured incorrectly. Analysis of Problem Joanna Cohen calculated a weighted average cost of capital (WACC) of 8.40 percent by using the capital asset pricing model (CAPM) for Nike Inc. she used vario..