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Suppose a company just paid dividend of $24.51. The dividend is expected to grow at 8.03% each year. If the stock is currently selling for

Suppose a company just paid dividend of $24.51. The dividend is expected to grow at 8.03% each year. If the stock is currently selling for $112.21, what is the dividend yield?

Enter the answer as a percentage rounded off to two decimal points.

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