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A company just paid a dividend of $2 but is not expected to pay dividends in the future. The current stock price is $50, the

A company just paid a dividend of $2 but is not expected to pay dividends in the future. The current stock price is $50, the risk-free rate is 3%, the beta is 1.1, and the market risk premium is 5%. What is the companys cost of equity?

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