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A company just paid a dividend of $3.50 per share on its common stock. The company is expected to maintain a constant 5 percent growth

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A company just paid a dividend of $3.50 per share on its common stock. The company is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the stock sells for $57 per share, what is the company's cost of equity? Enter your answer as a decimal number (not as a percentage number) with 4 digits to the right of the decimal point in the box shown below. Your

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