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The common stock of ABC, Inc. has a beta of 0.85 and a standard deviation of 30.48%. The expected return on the market is 18.04%

The common stock of ABC, Inc. has a beta of 0.85 and a standard deviation of 30.48%. The expected return on the market is 18.04% and the risk-free rate is 4.85%. What is the cost of equity for this firm? Enter your answer as a percentage rounded off to two decimal points

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