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The Drogon Company just Issued a dividend of $ 2 . 6 6 per share on its common stock. The company is expected to maintain

The Drogon Company just Issued a dividend of $2.66 per share on its common stock. The company is expected to maintain a constant 7 percent growth rate in its dividends indefinitely, If the stock sells for $45 a share, what is the company's cost of equity?

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