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** 4. 10 points ** Assume Apple (AAPL) just finished paying an annual dividend of $2.08. You look up their beta and it equals 1.1,

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** 4. 10 points ** Assume Apple (AAPL) just finished paying an annual dividend of $2.08. You look up their beta and it equals 1.1, implying it's slightly more risky than the market portfolio. The current risk-free rate equals 2%. Assume a market risk premium of 5%. Apple's current stock price is $120. Assuming investors expect Apple to grow at a constant rate in perpetuity, what is that growth rate expectation

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