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28. Winter's Coffee Shop has a debt-equity ratio of 0.20. It has free cash flows of $10,000 per year and $650,000 in debt. Its pre-tax

28. Winter's Coffee Shop has a debt-equity ratio of 0.20. It has free cash flows of $10,000 per year and $650,000 in debt. Its pre-tax cost of debt is 6 percent and the required return on assets is 16 percent. What is the cost of equity if you ignore taxes?

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