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Wayne Industries just paid its annual dividend of $1.25 a share. The stock has a market price of $25.80 and a beta of 1.42. The

Wayne Industries just paid its annual dividend of $1.25 a share. The stock has a market price of $25.80 and a beta of 1.42. The return on the U.S. Treasury bill is 3.7 percent and the market risk premium is 8.5 percent. What is the cost of equity?

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