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HighGrowth Company has a stock price of $20.00. The firm will pay a dividend next year of $1.00, and its dividend is expected to grow
HighGrowth Company has a stock price of $20.00. The firm will pay a dividend next year of $1.00, and its dividend is expected to grow at a rate of 4.0% per year thereafter. What is your estimate of HighGrowth's cost of equity capital? HighGrowth's cost of equity capital is \%. (Round to two decimal places.)
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