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24. The stock of Cabbor, Incorporated is trading at $50.00 per share. The company just paid a dividend of $7.00 per share (that is, Do

24. The stock of Cabbor, Incorporated is trading at $50.00 per share. The company just paid a dividend of $7.00 per share (that is, Do = 7.00). The growth rate in dividends is projected to be 6 percent per year forever. What is Cabbor's cost of equity capital (that is, compute the required rate of return on the stock)

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