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18. Well's stock pays a dividend once each year, and it just paid a dividend of $0.85 yesterday. The current market price of the stock

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18. Well's stock pays a dividend once each year, and it just paid a dividend of $0.85 yesterday. The current market price of the stock is $12.14. If investors believe that Well's will increase it dividends by 7 percent per year forever, what is the required rate of return on Well's stock

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