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The dividend for Erso Corp. next year is expected to be $1.42. The stock is currently trading for $36 per share. Based on recent financial

The dividend for Erso Corp. next year is expected to be $1.42. The stock is currently trading for $36 per share. Based on recent financial statements, the following information was also gathered. Net Income was recorded at $67 million. Total Owners' Equity was $803 million, and Dividends paid was listed as $12 million. The estimated cost of equity, RE, is ________%.

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