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Suppose Lozola Ltd. just issued a dividend of $1.65 per share on its common stock. The company paid dividends of $1.25, $1.32, and $1.48 per

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Suppose Lozola Ltd. just issued a dividend of $1.65 per share on its common stock. The company paid dividends of $1.25, $1.32, and $1.48 per share in the last three years. If the stock currently sells for $34, what is your best estimate of the company's cost of equity using the geometric average growth rate in dividends? 15.02% 14.84% 14.94% 15.12%

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