For JNJ, what is the cost of equity using the CAPM approach? Round to nearest whole percentage

Question options:

	3%
	12%
	11%
	6%
	9%

JOHNSON \& JOHNSONAND SUBSIDIARIES CONSOLIDATED BAL.ANCE SHEETS At December 30, 2018 and December 31, 2017 (Dollars in Millions Exeept Share and Per Share Amounts) (Note 1) JOHNSON \& JOHNSON AND SUBSIDIARIES CONSOL.IDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* Johnson and Johnson - For use with WACC Assessment Johnson \& Johnson (JNJ) Other Assumptions: 1. Market return for equities 11% 2. Risk free rate 3% 3. JNJ has a 10-year bond issue that is currently priced at 102. It was issued three years ago with a coupon rate of 2.45%. Use this bond's YTM as a pre-tax cost of long-term debt