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Roscoe Raspberry Corp. just paid an annual dividend of $ 2 . 5 3 on its common stock. They increase the dividend by 3 .

Roscoe Raspberry Corp. just paid an annual dividend of $2.53 on its common stock. They increase the dividend by 3.30% annually. What is the company's cost of equity if the current stock price is $39.16 per share?

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