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Suppose Microsoft has no debt and a WACC of 8.8 %. The averagedebt-to-value ratio for the software industry is 5.2 %. What would be its

Suppose Microsoft has no debt and a WACC of 8.8 %. The averagedebt-to-value ratio for the software industry is 5.2 %. What would be its cost of equity if it took on the average amount of debt for its industry at a cost of debt of 6.4 %? (Round to two decimal places)

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