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Clifford, Inc., has a target debt-equity ratio of 75. Its WACC is 8.6 percent, and the tax rate is 35 percent. If the after-tax cost

Clifford, Inc., has a target debt-equity ratio of 75. Its WACC is 8.6 percent, and the tax rate is 35 percent. If the after-tax cost of debt is 4 percent, what is the cost of equity? 10.23% 11.89% 12.06% 13.09%

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