Question: Free Willy, Inc., (Nasdaq: FWIC) has a beta of 1.4. If the rate on U.S. Treasury bills is 4.5 percent and the expected rate of return on the stock market is 12 percent, what is Free Willy's cost of common equity financing? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.