Solved: During this time dividends have grown at a compound annual, Cost Accounting

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During this time dividends have grown at a compound annual

Duke Energy has been paying dividends steadily for 20 years. During this time, dividends have grown at a compound annual rate of 7%. If Duke Energy's current stock price is $78 and the firm's plans to pay a dividend of $6.50 next year, what is Duke's cost of common stock equity?

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Cost Accounting: During this time dividends have grown at a compound annual

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