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1. (Measuring growth) If Pepperdine, Inc.'s returu on equity is 18 percent and the management plans to retain 62 percent of earnings for investment purposes,

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1. (Measuring growth) If Pepperdine, Inc.'s returu on equity is 18 percent and the management plans to retain 62 percent of earnings for investment purposes, what will be the firm's growth rate? The firm's growth rate will be \% (Round to two decimal places.)

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