Grammatical and orthographic error
People often make this error due to mishearing or misinterpreting the contraction "could've," which combines "could" and "have." When spoken quickly, "could've" sounds very similar to "could of," leading to the incorrect spelling.
"Could have" or its contraction "could've" is the correct form to use, as "have" is the auxiliary verb needed to form the present perfect tense.
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