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A firm's unlevered cost of equity is 12.20%. The yield to maturity (YTM) on its debt is 4.5%, its debt-equity ratio is 1.3 , and

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A firm's unlevered cost of equity is 12.20%. The yield to maturity (YTM) on its debt is 4.5%, its debt-equity ratio is 1.3 , and its tax rate is 21%. What is the firm's levered cost of equity? (Round your answer to the nearest one-hundredth of a percent. Do not enter the percentage symbol. For example, if your answer is 12.3456789%, enter 12.35 . Do not worry if Canvas truncates trailing zeros.)

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