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Cost of Equity: Dividend Growth Summerdahl Resort's common atock is currently trading at $28 a share. The stock is expected to pay a dividend of

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Cost of Equity: Dividend Growth Summerdahl Resort's common atock is currently trading at $28 a share. The stock is expected to pay a dividend of $1.00 a share at the end of the year (D) = 51.00, and the dividend is expected to grow at a constant rate of 6% a year. What is the cost of common equity? flound your answer to two decimal piaces

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