Estimate klints cost of retained earnings

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Klints Inc. paid an annual dividend of $1.55 last year. The firm's stock sells for $27.50 per share, and the company is expected to grow at about 4% per year into the foreseeable future. Estimate Klints' cost of retained earnings. Round the answer to two decimal places. Do not round intermediate calculations.

Reference no: EM132881870

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