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3. (I) The common stock of Rahim Afroz Company is currently selling for $30 per share. The company has been growing at a constant annual

3. (I) The common stock of Rahim Afroz Company is currently selling for $30 per share. The company has been growing at a constant annual rate and the growth is expected to continue for an infinite period. If $25 is the next dividend you would receive and investors require 11%, What is the constant growth rate?

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