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Assume IBM just paid a dividend of 4.50 and expects these dividends to grow at 8% a year. The ex-div price of IBM is 100

Assume IBM just paid a dividend of 4.50 and expects these dividends to grow at 8% a year. The ex-div price of IBM is 100 per share. What is IBM's cost of equity capital? 3.86% 8% 12.22% 12.86%

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