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The current risk-free rate of return ( rRF ) is 4.23% while the market risk premium is 6.17%. The Allen Company has a beta of

The current risk-free rate of return ( rRF ) is 4.23% while the market risk premium is 6.17%. The Allen Company has a beta of 0.78. Using the capital asset pricing model (CAPM) approach, Allens cost of equity is _________.

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