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A firm's common stock is currently selling for $18 per share. The dividend expected to be paid at the end of the coming year is
A firm's common stock is currently selling for $18 per share. The dividend expected to be paid at the end of the coming year is $1.74. Its dividend payments have been growing at a constant rate for the last four years. Four years ago, the dividend was $1.50. What is the firm's cost of its common stock?
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