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A firm has a beta of 1.65 and an ROE of 14.7%. Meanwhile, the risk-free rate is 4.75% and the expected market return is 8.5%.

A firm has a beta of 1.65 and an ROE of 14.7%. Meanwhile, the risk-free rate is 4.75% and the expected market return is 8.5%. What is the firms Ke?(DON'T USE A PERCENT SIGN! ENTER THE ANSWER AS AN INTEGER PLUS DECIMAL FRACTION, ROUNDED TO TWO DECIMAL POINTS.)

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