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19. ABC company has no debt. Last year, the company paid out $45,000 as the dividends expenses. The company is expecting an annual increase of

19.

ABC company has no debt. Last year, the company paid out $45,000 as the dividends expenses. The company is expecting an annual increase of 7% in dividends. ABC company has a market value of $800,000. The equity cost of capital of ABC firm is equal to:

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