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The Global Advertising Company has a marginal tax rate of 20 percent. The last dividend paid by Global was $2. Global's common stock is selling

The Global Advertising Company has a marginal tax rate of 20 percent. The last dividend paid by Global was $2. Global's common stock is selling for $15.59 per share, and its expected growth rate in earnings and dividends is 5 percent. What is Global's cost of common stock?

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