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Whitewall Tire Co. just paid an annual dividend of $1.20 on its common shares. If...

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Accounting

Whitewall Tire Co. just paid an annual dividend of $1.20 on its common shares. If Whitewall is expected to increase its annual dividend by 8.10 percent per year into the foreseeable future and the current price of Whitewalls common shares is $11.57, what is the cost of common stock for Whitewall?

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