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(b) Chelsea Fashions is expected to pay an annual dividend of RM0.80 a share next year. The market price of the stock is RM22.40 and

(b) Chelsea Fashions is expected to pay an annual dividend of RM0.80 a share next year. The market price of the stock is RM22.40 and the growth rate is 5 percent. Determine the firm's cost of equity

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