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Best Co. has 100 million common shares outstanding currently selling for $40/share. It has a dividend yield of 3% (hint: dividend yield is calculated as

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Best Co. has 100 million common shares outstanding currently selling for $40/share. It has a dividend yield of 3% (hint: dividend yield is calculated as dividends paid in the last 12 months divided by its current share price). You believe Best Co. can grow dividends by 5% per year for perpetuity. According to the dividend growth model how much is Best Co's cost of equity (r)? Ors 8.00% O 8.00%

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