Question: Dick's, a sporting goods store, expects to have earnings per share of $3 in the coming year. The firm plans to pay out all of

Dick's, a sporting goods store, expects to have earnings per share of $3 in the coming year. The firm plans to pay out all of its earnings as a dividend. There is no expectation of growth. Dicks current share price is $60. What is Dick's equity cost of capital?

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