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The Raider Coffee Compony is expected to pay an annual dividend of $4.00 on its common stock in one yeac. The current siock price is

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The Raider Coffee Compony is expected to pay an annual dividend of $4.00 on its common stock in one yeac. The current siock price is $65.00 per share. The company announced that it will increase its dividend by 3.0 percent annually. What is the companys cost of equity? Convert to a percentage and round to one place past the decimal point. Numenc Resporist

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