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

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Accounting

Sandhill Tire Co. just paid an annual dividend of $1.20 on its common shares. If Sandhill is expected to increase its annual dividend by 2.1 percent per year into the foreseeable future and the current price of Sandhill's common shares is $14.59, what is the cost of common stock for Sandhill?
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