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The Tribiani Company just issued a dividend of $2.60 per share on its common stock....

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Accounting

The Tribiani Company just issued a dividend of $2.60 per share on its common stock.
The company is expected to maintain a constant 4 percent growth rate in its
dividends indefinitely. If the stock sells for $44.40 a share, what is the company's
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.
Answer is complete but not entirely correct.
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