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12) )Compute the July 2014 cost of capital (rounded to nearest percent) for an investment center with the following information:
Pre-tax operating income for July 2014 $15,500,000
Assets at July 31, 2014 $8,200,000
Current liabilities at July 31, 2014 $3,200,000
Long-term liabilities at July 31, 2014 $2,200,000
Income tax expense for July 31, 2014 $5,500,000
EVA $9,500,000
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