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Company A has the following information. The yield on its bonds is 11.50%. If the cost of equity can be estimated using a risk premium

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Company A has the following information. The yield on its bonds is 11.50%. If the cost of equity can be estimated using a risk premium of 3.85% over a company's own cost of debt, what is Company A's cost of equity? Answer just the number without the % sign. Round to two decimal places

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