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A company is 38% financed by risk-free debt. The interest rate is 11%, the expected market risk premium is 9%, and the beta of the

image text in transcribed A company is 38% financed by risk-free debt. The interest rate is 11%, the expected market risk premium is 9%, and the beta of the company's common stock is 0.61 . What is the company cost of capital? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places

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