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Assume that IBM has a beta of 5.29. If you assume that the current market risk premium is 0.98% and that the risk-free rate is

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Assume that IBM has a beta of 5.29. If you assume that the current market risk premium is 0.98% and that the risk-free rate is 8.74%, what is your estimate of IBM's cost of equity? (Submit your answer as a DECIMAL to four decimal places, as an example .0000)

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