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2. Endor Incorporated has just paid a dividend of $4.49. The firm's current price on common stock is $34.99. Dividends are expected to grow at

2. Endor Incorporated has just paid a dividend of $4.49. The firm's current price on common stock is $34.99. Dividends are expected to grow at a 5% 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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