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Cost of equity: SML. Stan is expanding his business and will sell common stock for the needed funds. If the current risk-free rate is 3.7%

Cost of equity: SML. Stan is expanding his business and will sell common stock for the needed funds. If the current risk-free rate is 3.7% and the expected market return is 12.9%, a. What is the cost of equity for Stan if the beta of the stock is 0.53? % (Round to two decimal places.)

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