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please help me understand this question step-by-step. Thank you for your time. Steady Company's stock has a beta of 0.20 . If the risk-free rate

please help me understand this question step-by-step. Thank you for your time.

Steady Company's stock has a beta of 0.20 . If the risk-free rate is 6.0% and the market risk premium is 7.0%, what is an estimate of Steady Company's cost of equity? Steady's cost of equity capital is K. (Round to one decimal place.)

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