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ABC Inc.'sstock is currently sellingfor $47.88 per share. The company just paid its first annual dividend of $0.62 a share. The firm plans to increase

ABC Inc.'sstock is currently sellingfor $47.88 per share. The company just paid its first annual dividend of $0.62 a share. The firm plans to increase the dividend by4.6 percent per year indefinitely. What is the required rate of return on equity?

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