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The Tribiani Company just issued a dividend of $ 2 . 3 0 per share on its common stock. The company is expected to maintain

The Tribiani Company just issued a dividend of $2.30 per share on its common stock. The company is expected to maintain a constan 7 percent growth rate in its dividends indefinitely. If the stock sells for $43.10 a share, what is the companys cost of equity?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.

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