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ABC Co. is expecting to pay a dividend of $1.98 in the upcoming year and further anticipates growing the dividend at a constant rate of

ABC Co. is expecting to pay a dividend of $1.98 in the upcoming year and further anticipates growing the dividend at a constant rate of 3.5% per year, indefinitely. If the current share price is $25, then what is the cost of equity according to the Gordon Growth Model?

10.99%
11.42%
12.33%
14.56%
None of the above

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