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Carla Vista Rocket paid an annual dividend of 1.60 yesterday, and it is commonly known that the firm's management expected to increase its dividend by

Carla Vista Rocket paid an annual dividend of 1.60 yesterday, and it is commonly known that the firm's management expected to increase its dividend by 11 percent for the next two years and by 2 percent thereafter. If the current price of Carla Vista's common stock is $21.33, what is the cost of common equity capital for the firm?

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