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Bens Ice Cream just paid their annual dividend of $.75 a share. The stock has a market price of $32 and a beta of .90.

Bens Ice Cream just paid their annual dividend of $.75 a share. The stock has a market price of $32 and a beta of .90. The return on the U.S. Treasury bill is 4 percent and the market has a 12 percent rate of return. What is the cost of equity?

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