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Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all-equity firm that specializes in this business. Suppose Harburtin's equity

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Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all-equity firm that specializes in this business. Suppose Harburtin's equity beta is 0.85, the risk-free rate is 3.6%, and the market risk premium is 5.2%. If your firm's project is all-equity financed, estimate its cost of capital. Harburtin's cost of capital is %. (Round to two decimal places.) C

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