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A company's stock has a beta of 0.9. The stock currently sells for $150 per share. The company just paid a dividend of $2 per

A company's stock has a beta of 0.9. The stock currently sells for $150 per share. The company just paid a dividend of $2 per share and future dividends are expected to grow at 5% per year. If the expected return on the market is 8.75%, what is the cost of equity capital for this company?

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