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Countess Corp. is expected to pay an annual dividend of $4.21 on its common stock in one year. The current stock price is $70.47 per

Countess Corp. is expected to pay an annual dividend of $4.21 on its common stock in one year. The current stock price is $70.47 per share. The company announced that it will increase its dividend by 3.40 percent annually. What is the company's cost of equity?

Multiple Choice

9.94%
9.11%
9.37%
9.58%
8.85%

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