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A business, based in the Midwest, requires an 8.000% after tax rate of return. The state tax rate is 5% and the company is in

A business, based in the Midwest, requires an 8.000% after tax rate of return. The state tax rate is 5% and the company is in the 21% federal tax bracket. Using the combined incremental tax rate and the after-tax rate, what is the estimate of the before-tax rate of returnrequired.

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