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Lock Haven Inc. has stock currently selling for $35.50 per share. The firm is expecting that its per- share dividend will be $1.75 in year

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Lock Haven Inc. has stock currently selling for $35.50 per share. The firm is expecting that its per- share dividend will be $1.75 in year one. Analysts are projecting the growth rate to be constant at 4.70%. Use the discounted cash flow approach to determine Lock Haven's cost of internal equity. 9.63% 8.30% 2.96% 4.75%

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