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Calculating Cost of Equity [LO1]. The Drogon Company just issued a dividend of $2.26 per share on its common stock. The company is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the stock sells for $40 a share, what is the company's cost of equity? Multiple Choice a) 6.06% b) 11.48% c) 10.93% d) 10.39% e) 10.65%
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