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The weighted average cost of capital for a firm (assuming all three Modigliani and Miller assumptions apply) is 18 percent. What is the current cost

The weighted average cost of capital for a firm (assuming all three Modigliani and Miller assumptions apply) is 18 percent. What is the current cost of equity capital for the firm if its cost of debt is 11 percent and the proportion of debt to total firm value for the firm is 0.5? (Round answer to 0 decimal places, e.g. 17%.) Please show breakdown of equation.

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