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Cliff's Concoctions Corporation's (C3 ) stock currently sells for $81 per share and recently paid a $3.00 per share dividend. C3 has a rosy economic

Cliff's Concoctions Corporation's (C3 ) stock currently sells for $81 per share and recently paid a $3.00 per share dividend. C3 has a rosy economic outlook; C3 expects revenues, earnings and dividends to continue to grow at annual rate of 6%. Treasury bills (risk-free rate) currently offer a return of 2% annually and the market risk premium is 10%. What is beta () of C3 's stock?

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