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IBM expects to pay a dividend of $5 next year and expects these dividends to grow at 9% a year. The price of IBM is

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IBM expects to pay a dividend of $5 next year and expects these dividends to grow at 9% a year. The price of IBM is $85 per share. What is IBM's cost of equity capital? A. 14.88% B. 14.14% C. 13.39% D. 11.91%

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