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Crane Industries, common stock has a beta of 1.5. If the current risk-free rate is 5.5 percent and the market risk premium is 5 percent,

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Crane Industries, common stock has a beta of 1.5. If the current risk-free rate is 5.5 percent and the market risk premium is 5 percent, what is Crane's cost of common stock? (Do not round intermediate calculations. Round answer to 1 decimal place, e.g. 15.2\%.) Cost of common stock %

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