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The Drogon Company just issued a dividend of $2.26 per share on its common stock. The company is expected to maintain a constant 7 percent

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The Drogon Company just issued a dividend of $2.26 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? Multiple Choice 12.99% 12.02% 5.53%

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