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Stock in a company has a beta of 0.75. The market risk premium is 10% while T-bills are currently yielding 5.5%. The most recent dividend

Stock in a company has a beta of 0.75. The market risk premium is 10% while T-bills are currently yielding 5.5%. The most recent dividend was $1.57 per share, and dividends are expected to grow at a 7% annual rate indefinitely. The stock sells for $33 per share. What is the estimated cost of equity using the average of the CAPM approach and the dividend discount approach?

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