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Booher Book Stores has a beta of 0.6 . The yield on a 3-month T-bill is 3% and the vield on a 10 -year T-bond is 6%. The market risk prenium is 4.5%, and the return on an average stock in the market last year was 13%. What is the estimated cost of common equity using the caps? Round your ansmer to twe secimal places