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The Drogon Co. just issued a dividend of $2.56 per share on its common stock. The company is expected to maintain a constant 5 percent

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The Drogon Co. just issued a dividend of $2.56 per share on its common stock. The company is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the stock sells for $40 a share, what is the company's cost of equity? Multiple Choice 11.72% O 6.84% 11.4% 0 12.31%

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