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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 $1.58 per share. Historically, dividends have grown by about 3.4% per year. Nifty Bikes shares are currently trading for $28.5 a share. What is Nifty Bikes' cost of equity

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