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Manchester Mechanical Ltd. paid a dividend this year of $6.30 on each of its 450,000...

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Accounting

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Manchester Mechanical Ltd. paid a dividend this year of $6.30 on each of its 450,000 common shares outstanding. Current market price is $56.00. Dividends are expected to grow by 1.5% per year. What is the cost of share capital to the business? a. 11.25% b. 11.4% c. 12.75% d. 16.35% e. $2.88 million

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