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The Raider Coffee Company is expected to pay an annual dividend of $4.00 on its common stock in one year The current stock price is

The Raider Coffee Company is expected to pay an annual dividend of $4.00 on its common stock in one year The current stock price is $65.00 per share. The company announced that it Will increase its dividend by 3.0 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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