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3. Which of the following statements is most correct? a. Assume that the required rate of return on a given stock is 13 percent. If

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3. Which of the following statements is most correct? a. Assume that the required rate of return on a given stock is 13 percent. If the stock's dividend is growing at a constant rate of 5 percent, its expected dividend yield is 5 percent as well. b. The dividend yield on a stock is equal to the expected return less the expected capital gain c. A stock's dividend yield can never exceed the expected growth rate. d. All of the answers above are correct. e. Answers b and c are correct

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