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Will Co. is expected to pay a dividend of $4 per share at the end of year -1(D1) and the dividends are expected to grow

Will Co. is expected to pay a dividend of $4 per share at the end of year -1(D1) and the dividends are expected to grow at a constant rate of 4.5% forever. If the current price of the stock is $35 per share calculate the expected return or the cost of equity capital for the firm.

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