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JaiLai Companys stock has a beta of 0 . 7 , the current risk - free rate is 6 . 7 percent, and the expected

JaiLai Companys stock has a beta of 0.7, the current risk-free rate is 6.7 percent, and the expected return on the market is 13 percent.
What is JaiLais cost of equity?
Note: Round your answer to 2 decimal places.

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