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please show steps and formulas (4) Company BW has 50,000 shares outstanding and the market price is $23 per share. People believe this company is

please show steps and formulas

(4) Company BW has 50,000 shares outstanding and the market price is $23 per share. People believe this company is twice as risky as the stock market. Current T-bill rate is 3% and expected stock market return this year is 9%. What is BW's annual cost of equity? (15 points)

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