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A company's common stock is currently trading at $54 per share. The company plans to pay out $2.40 dividend per share next year and the

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A company's common stock is currently trading at $54 per share. The company plans to pay out $2.40 dividend per share next year and the dividends are expected to grow at 4% per year indefinitely. What is the company's cost of common equity based on the discounted dividend model? 4.44% 8.44% 8.62% None of the given choices

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