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Builtrite's common stock is currently selling for $76 a share and the firm just paid an annual dividend of $3.40 per share.Management believes that dividends

Builtrite's common stock is currently selling for $76 a share and the firm just paid an annual dividend of $3.40 per share.Management believes that dividends and earnings should grow at 7% annually. Based on this, and a marginal tax rate of 34%, what is the cost of common stock (also known as the cost of retained earnings)?

Can you Please break down the math

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