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26. Hilltop Paving has a levered equity cost of capital of 14.92 percent. The debt-to-value ratio is 0.4, the assumed tax rate is 23 percent,

26. Hilltop Paving has a levered equity cost of capital of 14.92 percent. The debt-to-value ratio is 0.4, the assumed tax rate is 23 percent, and the pretax cost of debt is 7.2 percent. What is the estimated unlevered cost of equity? (b) 12.08% 12.30% 13.06% 10.97% (d)

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