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A firm has decided to use the capital asset pricing model ( CAPM ) to calculate the cost of its internal common stock equity for

A firm has decided to use the capital asset pricing model (CAPM) to calculate the cost of its internal common stock equity for its WACC. If the firm has a beta of 1.42, the risk-free rate as measured by the rate on short-term U.S. Treasury bills is 3.02%, and the expected market risk premisum is 6.11%. What would the firm's cost of common stock equity be?(Please enter your answer to two decimal point precision - in other words, if you calculate 9,87736%, then enter 9.88.)
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