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JaiLai Companys stock has a beta of 0.6, the current risk-free rate is 6.4 percent, and the expected return on the market is 12

JaiLai Companys stock has a beta of 0.6, the current risk-free rate is 6.4 percent, and the expected return on the market is 12 percent. What is JaiLai's cost of equity? Note: Round your answer to 2 decimal places. Cost of equity %

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