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Alderaan Incorporated has just paid a dividend of $3.27. The firm's current price on common stock is $51.35. Dividends are expected to grow at a

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Alderaan Incorporated has just paid a dividend of $3.27. The firm's current price on common stock is $51.35. Dividends are expected to grow at a 4% constant rate. What is the firm's 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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