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The common stock of Modern Interiors has a beta of 2.55. The market rate of return is 10.6 percent and the risk-free rate is 2.2

The common stock of Modern Interiors has a beta of 2.55. The market rate of return is 10.6 percent and the risk-free rate is 2.2 percent. What is the cost of equity for this firm, according to the CAPM? Input your answer as a decimal rounded to four places.

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