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9-3 Javits and Sons common stock is currently trading at $30 a share. The stock is expected to pay a dividend of $3.

9-3
Javits and Sons common stock is currently trading at $30 a share.  The stock is expected to pay a dividend of $3.00 a share at the end of the year, and the dividend is expected to grow at a constant rate of 5% a year.  What is the cost of the common equity?

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