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Suppose Microsoft has no debt and a WACC of 9.2%. If the average debt-to-value ratio for the software industry is 14%, what would its cost

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Suppose Microsoft has no debt and a WACC of 9.2%. If the average debt-to-value ratio for the software industry is 14%, what would its cost of equity be if it took on the average amount of debt for its industry at a cost of debt of 5%? The cost of equity is %. (Round to two decimal places.)

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