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Glenmark has a debt equity ratio of 0.40 and its WACC is 13.11% with a tax rate of 30%. Calculate its cost of equity if

Glenmark has a debt equity ratio of 0.40 and its WACC is 13.11% with a tax rate of 30%. Calculate its cost of equity if the after tax cost of debt is 12%. (Show your answers in percentage and do not include the

percentage symbol.)

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