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HighGrowth Company has a stock price of $ 20 . The firm will pay a dividend next year of $ 0.96 , and its dividend

HighGrowth Company has a stock price of $ 20 . The firm will pay a dividend next year of $ 0.96 , and its dividend is expected to grow at a rate of 4.3 % per year thereafter. What is your estimate of HighGrowth's cost of equity capital?

The required return (cost of capital) of levered equity is ________ %. (Round to one decimal place.)

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