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Sheridan Tire Co. just paid an annual dividend of $1.20 on its common shares. If Sheridan is expected to increase its annual dividend by 3.10

Sheridan Tire Co. just paid an annual dividend of $1.20 on its common shares. If Sheridan is expected to increase its annual dividend by 3.10 percent per year into the foreseeable future and the current price of Sheridans common shares is $15.54, what is the cost of common stock for Sheridan?

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