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TRAV is a firm in the travel/leisure industry and TRAV uses a discount rate of 15% when valuing projects that are simply an expansion of

TRAV is a firm in the travel/leisure industry and TRAV uses a discount rate of 15% when valuing projects that are simply an expansion of its current business.

Assume that this is the appropriate discount rate for TRAV to use. What is the expected return on equity for TRAV?

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