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Heavy Rain Corporation just paid a dividend of $3.42 per share, and the firm is expected to experience constant growth of 5.04% over the foreseeable

Heavy Rain Corporation just paid a dividend of $3.42 per share, and the firm is expected to experience constant growth of 5.04% over the foreseeable future. The common stock is currently selling for $63.85 per share. What is Heavy Rain’s cost of retained earnings using the Gordon Model (DDM) approach?

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