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Please show work by hand. 9.2 Suppose Massey Ltd. just issued a dividend of $1.56 per share on its common stock. The company paid dividends

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Please show work by hand.

9.2 Suppose Massey Ltd. just issued a dividend of $1.56 per share on its common stock. The company paid dividends of S1.10, S1.20, $1.32, and $1.43 per share in the last four years. If the stock currently sells for S38, what is your best estimate of the company's cost of equity capital

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