Question mirons copper corp management expects its common, Ask an Expert

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Question: Miron's Copper Corp. management expects its common stock dividends to grow 1.23 percent per year for the indefinite future. The firm's shares are currently selling for $15.30, and the firm just paid a dividend of $3.00 yesterday. What is the cost of common stock for Miron? (Round answer to 0 decimal places, e.g. 15%.)

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