(Answered) Grays tools just issued a dividend of 160 per share on its

Finance

Gray's Tools just issued a dividend of $1.60 per share on its common stock. The company is expected to maintain a constant 4 percent growth rate in its dividends indefinitely. If the stock sells for $31 a share, what is the company's cost of equity?

	8.81 percent
	9.37 percent
	9.94 percent
	10.32 percent
	11.46 percent

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