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Block stock sells for $ 3 1 per share. It just paid a dividend of $ 1 . 1 4 per share. The company has

Block stock sells for $31 per share. It just paid a dividend of $1.14 per share. The company has a growth rate of 4% annually. The return of market is 6%. T-bills have a rate of 2.5%. The bond-yield risk premium is 4%. Block's beta is 1.17. What is the cost of equity for Block?

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