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Suppose Visa Inc. (V) has no debt and an equity cost of capital of 9.2% . The average debt-to-value ratio for the credit services industry

Suppose Visa Inc. (V) has no debt and an equity cost of capital of 9.2%. The average debt-to-value ratio for the credit services industry is 13%.

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 6%?

The cost of equity is________%.(Round to two decimal places.)

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