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Corporation ABC has a current stock price of $14.47 and is expected to pay a dividend of 1.45 in one year. Its expected price right

Corporation ABC has a current stock price of $14.47 and is expected to pay a dividend of 1.45 in one year. Its expected price right after paying the dividend is $16.73.

What is corporation ABC's equity cost of capital? Express answer to two decimal.

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