(910) Cost of Equity The earnings, dividends, and stock price of Shelby Inc. are expected to grow...

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(9–10)

Cost of Equity The earnings, dividends, and stock price of Shelby Inc. are expected to grow at 7% per year in the future. Shelby’s common stock sells for $23 per share, its last dividend was

$2.00, and the company will pay a dividend of $2.14 at the end of the current year.

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