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A company's CFO wants to maintain a target debt-to-equity ratio of 28%. If the WACC is 16.575%, and the pre-tax cost of debt is 9%,

A company's CFO wants to maintain a target debt-to-equity ratio of 28%. If the WACC is 16.575%, and the pre-tax cost of debt is 9%, what is the cost of common equity assuming a corporate tax rate of 30%?

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