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Oakridge Corporation stock is $14 today. Next year it's annual dividend is expected to be $1.06. Assume that dividends will grow at a constant rate

Oakridge Corporation stock is $14 today. Next year it's annual dividend is expected to be $1.06. Assume that dividends will grow at a constant rate of 5% what should be the cost of equity based on this data? Answer as a percent to two places.

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