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The Raider Coffee Company is expected to pay an annual dividend of $3.50 on its common stock in one year. The current stock price is
The Raider Coffee Company is expected to pay an annual dividend of $3.50 on its common stock in one year. The current stock price is $70.00 per share. The company announced that it will increase its dividend by 3.5 percent annually. What is the company's cost of equity? Convert to a percentage and round to one place past the decimal point.
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