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  "notes": "Includes a detailed footnote explaining the excess cash adjustment methodology.",
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      "text": "Risk-free rate based on 10 Year US Treasury (Spot Rate) as of Sep 25, 2020. Weibo's calculated weighted cost of capital (base case) is 11.7% per CAPM method on a consolidated basis.",
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      "text": "Source: Capital IQ, Company filings. Notes: 1. Excess cash adjustment calculated as difference between implied cost of capital and cost of equity...",
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