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The Lenzie Corporations common stock has a beta of 1.60. If the risk-free rate is 4.7% and the expected return on the market is 13%,

The Lenzie Corporations common stock has a beta of 1.60. If the risk-free rate is 4.7% and the expected return on the market is 13%, what is the companys 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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