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Problem 13.5 Whitewall Tire Co. just paid an annual dividend of $1.20 on its common shares. If Whitewall is expected to increase its annual dividend

Problem 13.5 Whitewall Tire Co. just paid an annual dividend of $1.20 on its common shares. If Whitewall is expected to increase its annual dividend by 5.10 percent per year into the foreseeable future and the current price of Whitewalls common shares is $20.65, what is the cost of common stock for Whitewall?

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