You work for a US. ?rm, and your boss has asked you to estimate the cost of capital for countries using the euro‘ You lcnotmI that S = $1244 I E and F1 = 51.126 IE. Suppose the dollar WACC for your company is known to be 9%. If these markets are internationally integrated. Estimate the euro cost of capital for a project with free cash ?ows that are uncorrelated with spot exchange rates. Assume the ?rm pays the same tax rate no matter where the cash flows are earned. The estimated euro cost of capital is 20.423 %. [Round to three decimal places}