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Calculate the cost of common equity. Assume that the expected return on a market portfolio is 12%, the company's botais 0.51 and the risk-free rate

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Calculate the cost of common equity. Assume that the expected return on a market portfolio is 12%, the company's botais 0.51 and the risk-free rate is 7% What is the cost of common equity? % (Round to two decimal places.)

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