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Firm AAA has no debt and a cost of equity capital of 9% per year. Firm BBB is equivalent to firm AAA in all ways

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Firm AAA has no debt and a cost of equity capital of 9% per year. Firm BBB is equivalent to firm AAA in all ways except for its capital structure. Firm BBB is financed with $10 million in debt and $30 million in equity. The cost of debt capital for firm BBB is 3% per year. What is the cost of equity capital for firm BBB? Round all intermediate calculations to 6 decimal points. Your final answer should be within 0.05% of the correct answer choice. 11.00%14.00%12.00%13.00%

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