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Question 7 (5 points) ABC just paid an annual divided of $3.50 per share, with a plan to increase it by 2% per year indefinitely.

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Question 7 (5 points) ABC just paid an annual divided of $3.50 per share, with a plan to increase it by 2% per year indefinitely. What is ABC's cost of equity if its current stock price is $58.80? (Round your answer to the nearest hundredth; two decimal places) Your

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