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Nifty Bikes is a publicly trading company that is trying to determine their cost of equity using the dividend discount model. Nifty Bikes just paid

Nifty Bikes is a publicly trading company that is trying to determine their cost of equity using the dividend discount model. Nifty Bikes just paid a dividend of $ $1.12$ per share. Historically, dividends have grown by about $3.6 %$ per year. Nifty Bikes shares are currently trading for $ $26.02$ a share. What is Nifty Bikes' cost of equity?

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