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A new common stock issue that paid a $1.77 dividend last year. The bonds dividends are expected to continue to grow at 6.5% per year

A new common stock issue that paid a $1.77 dividend last year. The bonds dividends are expected to continue to grow at 6.5% per year forever. The price of the firm's common stock is now at $27.99. The cost of capital from the common equity is ____%

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