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David Ortiz Motors has a target capital structure of 12% debt and 88% equity. The yield to maturity on the companys outstanding bonds is 3.7%,

David Ortiz Motors has a target capital structure of 12% debt and 88% equity. The yield to maturity on the companys outstanding bonds is 3.7%, and the companys tax rate is 23%. Ortizs CFO has calculated the companys WACC as 8.63%. What is the companys cost of equity capital?

Please - no rounding

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