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1. Alderaan Incorporated has just paid a dividend of $3.79. The firm's current price on common stock is $69.77. Dividends are expected to grow at

1. Alderaan Incorporated has just paid a dividend of $3.79. The firm's current price on common stock is $69.77. Dividends are expected to grow at a 2% constant rate. What is the firms cost of common equity? Give your answer as a percentage, rounded to two decimal places (example: 9.58% as 9.58)

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