Alexas Corporation reports the following: 2005 Earnings per share $1.44 Dividends per share $0.62 Book Value/share at
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Question:
Alexas Corporation reports the following:
2005
Earnings per share $1.44
Dividends per share $0.62
Book Value/share at YE $7.70
If price-to-book ratio at the end of 2005 equals 1.00, and return on beginning of year equity is expected to remain constant, then cost of equity (to nearest percent) equals
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