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BG's has equity beta of 1.25 with total assets financed with 70% from equity. The expected...

BG's has equity beta of 1.25 with total assets financed with 70% from equity. The expected excess return on the market is 15.6 percent, and the risk-free rate is 3.8 percent. The firm is considering cutting total equity to 62.5% of total value. What would the cost of equity be if the firm meets its target? (Enter your answer as a percent)

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