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The Lenzie Corporation's common stock has a beta of 1.40. If the risk-free rate is 4.5% and the expected return on the market is 11%,

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The Lenzie Corporation's common stock has a beta of 1.40. If the risk-free rate is 4.5% and the expected return on the market is 11%, what is the company's cost of equity capital? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places.) Cost of equity capital %

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