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Paul Sharp is CFO of Fast Rocket Inc. He tries to determine the cost of equity financing for his company. The stock has a beta

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Paul Sharp is CFO of Fast Rocket Inc. He tries to determine the cost of equity financing for his company. The stock has a beta of 1.34. Paul estimated that the market return is 9.28%. The current rate for 10-year Treasury Bonds is 2.11%. Calculate cost of common equity financing using CAPH - SML formula. Round the answers to two decimal places in percentage form. (Write the percentage sign in the units box)

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