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The common stock is currently selling for 6938 per share

Finance: Cost of equity financing

Question

Heavy Rain Corporation just paid a dividend of $2.95 per share, and the firm is expected to experience constant growth of 4.44% over the foreseeable future. The common stock is currently selling for $69.38 per share. What is Heavy Rain's cost of retained earnings using the Gordon Model (DDM) approach?

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Finance Basics: The common stock is currently selling for 6938 per share

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