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Diddy Corp. stock has a beta of 1.2, the current risk-free rate is 4 percent, and the expected return on the market is 12.50 percent.

Diddy Corp. stock has a beta of 1.2, the current risk-free rate is 4 percent, and the expected return on the market is 12.50 percent.

What is Diddys cost of equity? (Round your answer to 2 decimal places.)

Cost of equity_______ %

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