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TTG Inc. has a target capital structure of 40% debt and 60% common equity, with no preferred stock. The yield to maturity on the companys

TTG Inc. has a target capital structure of 40% debt and 60% common equity, with no preferred stock. The yield to maturity on the companys outstanding bonds is 6.0%, and its tax rate is 37%. TTGs CFO estimates that the companys WACC is 8.91%. What is TTGs cost of common equity? Answer as a percentage with 2 decimals (ex. 16.61).

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