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Stock in CDB Industries has a beta of.85. The market risk premium is 10 percent, and T-bills are currently yielding 3 percent, CDB's most recent

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Stock in CDB Industries has a beta of.85. The market risk premium is 10 percent, and T-bills are currently yielding 3 percent, CDB's most recent dividend was $3 per share, and dividends are expected to grow at an annual rate of 3 percent indefinitely. If the stock sells for $35 per share, what is your best estimate of the company's cost of equity? 12.08% 10.23% 11.67% 13.02%

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