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Alderaan Incorporated has a current stock price of $74.44. The last dividend was at 5.71, and is expected to grow at a 5% constant rate.

Alderaan Incorporated has a current stock price of $74.44. The last dividend was at 5.71, and is expected to grow at a 5% constant rate. What is the firms cost of common equity? Give your answer as a percentage, rounded to two decimal places (example: 9.58% as 9.58)

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