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Q17. Jaffe Co. just paid a dividend of $1.65 per share. Dividends are expected to grow at 2% forever. The stock is currently trading at

Q17. Jaffe Co. just paid a dividend of $1.65 per share. Dividends are expected to grow at 2% forever. The stock is currently trading at $70 per share. Calculate the cost of common stock for the firm. (Enter percentages as decimals and round to 4 decimals)

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