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Harris and Handels Common Stock currently trades at 28.00 per share. It is expected to pay an annual dividend of 4.40 a share at the

Harris and Handels Common Stock currently trades at 28.00 per share. It is expected to pay an annual dividend of 4.40 a share at the end of the year, and the constant growth rate is 3.5% per year.

What is the company's cost of common equity if all of its equity comes from retained earnings?

Answer in percentage.

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