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Acton Golf Car Corp. is expected to pay an annual dividend of $0.95 a share next year. The market price of the stock is $11.75

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Acton Golf Car Corp. is expected to pay an annual dividend of $0.95 a share next year. The market price of the stock is $11.75 and the growth rate is 4.25 percent. What is the firm's cost of equity? Select one: a. 13.57 percent b. 14.19 percent c. 12.34 percent d. 12.95 percent

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