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Jacque Ewing Drilling, Inc. has a beta of 1.9 and is trying to calculate its cost of equity capital. If the risk-free rate of return

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Jacque Ewing Drilling, Inc. has a beta of 1.9 and is trying to calculate its cost of equity capital. If the risk-free rate of return is 8 percent and the market risk premium is 4 percent, then what is the firm's after-tax cost of equity capital if the firm's marginal tax rate is 40 percent? (Round to two decimal places) 23.60% 7.9% 13.20% 15,60%

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