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Cunningham and Reilly Crane Hire plc has common stock with an ex dividend market price of 0.70 per share and a constant expected annual dividend

Cunningham and Reilly Crane Hire plc has common stock with an ex dividend market price of 0.70 per share and a constant expected annual dividend growth rate of 5%. A dividend of 0.10 per share has just been paid. Calculate C & R's cost of equity capital.

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