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Ice Co stock has a beta of 1.83, the current risk-free rate is 5.08 percent, and the expected return on the market is 15.08 percent.

Ice Co stock has a beta of 1.83, the current risk-free rate is 5.08 percent, and the expected return on the market is 15.08 percent. What is Ice Co's cost of equity?

41.97%

21.99%

32.68%

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