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The common stock of Pedestrian Automotive has a beta of 1.32 and a standard deviation of 17.92%. The market rate of return is 16.7%, and

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The common stock of Pedestrian Automotive has a beta of 1.32 and a standard deviation of 17.92%. The market rate of return is 16.7%, and the risk-free rate is 5.5%. What is the cost of equity for this firm? (Do not round intermediate calculations. Round your final answer to two decimal places and express in percentage form, e.g., % )

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