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IBM Corp. is expected to pay an annual dividend of $3.97 to its shareholders in one year and it promises to increase its dividend by
IBM Corp. is expected to pay an annual dividend of $3.97 to its shareholders in one year and it promises to increase its dividend by 3.20% every year in the future. Suppose that the current stock price is $68.04 per share, what is the company's cost of equity?
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