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You want to calculate the weighted average cost of capital. The dividend just paid is $ 2 . 6 0 / share . It is

You want to calculate the weighted average cost of capital. The dividend just paid is $2.60/share. It is anticipated to grow at a rate of 4% for the foreseeable future.
What is the cost of equity if the current price of stock is $44.40 a share?
(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,12.34.)

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