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The Lo Tech Co. just issued a dividend of $2.90 per share on its common stock. The company is expected to maintain a constant 8percent growth rate in its dividends indefinitely.
If the stock sells for $43.70 a share, what is the company's cost of equity? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)
Paper#9209624 | Written in 27-Jul-2016Price : $17.85