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Dugen Inc's common stock trades at $20.00/share. It's projected the stock will pay a dividend of $2.00/share at the end of the year (D1= $2.00).

Dugen Inc's common stock trades at $20.00/share. It's projected the stock will pay a dividend of $2.00/share at the end of the year (D1= $2.00). The dividend is projected to grow at a constant rate of 4% a year. What is the cost of common equity?

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