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GHI Company's current share price is $18.8 and it is expected to pay a $1.8 dividend per share next year. After that, the firm's dividends

GHI Company's current share price is $18.8 and it is expected to pay a $1.8 dividend per share next year. After that, the firm's dividends are expected to grow at a rate of 2.8% per year.

What is an estimate of GHI Company's cost of equity?

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