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A firm is expected to pay an annual dividend of $1.05 per share next year. The market price of the stock is $22.00 per share

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A firm is expected to pay an annual dividend of $1.05 per share next year. The market price of the stock is $22.00 per share and the growth rate is 3.05%. What is the cost of equity? Multiple Choice O O 7.97% 6.68% 8.69% 782%

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