Kirby Enterprises's stock is currently selling for $19.25 per share, and the firm expects its per-share dividend to be $2.00 in one year. Analysts project the firm's growth rate to be constant at 4.20%. Using the discounted cash flow (or dividend-yield-plus-growth-rate) approach, what is Kirby's cost of internal equity?

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The cost of internal equity is also referred to as the required rat... View the full answer