Whitewall tire co just paid an annual dividend of 125 on, Ask an Expert

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Whitewall Tire Co. just paid an annual dividend of $1.25 on its common shares. If Whitewall is expected to increase its annual dividend by 7.30 percent per year into the foreseeable future and the current price of Whitewall's common shares is $12.48, what is the cost of common stock for Whitewall? Round answer to 2 decimal places.)

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