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The Down and Out Co. just issued a dividend of $1.45 per share on its common stock. The company is expected to maintain a constant

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The Down and Out Co. just issued a dividend of $1.45 per share on its common stock. The company is expected to maintain a constant 0.02 growth rate in its dividends indefinit ely. If the stock sells for $34.15 a share, what is the company's cost of equity? Enter the answer with 4 decimals (e.g. 0.1234)

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