(Answered) Heavy rain corporation just paid a dividend of 299 per

Finance

Heavy Rain Corporation just paid a dividend of $2.99 per share, and the firm is expected to experience constant growth of 4.71% over the foreseeable future. The common stock is currently selling for $90.21 per share. What is Heavy Rain's cost of retained earnings using the Gordon Model (DDM) approach?

Round the answers to two decimal places in percentage form.

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