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9 . You buy a stock for $ 2 0 per share and sell it for $ 4 5 after holding it for slightly over

9. You buy a stock for $20 per share and sell it for $45 after holding it for slightly over a year and collecting a $2 per share dividend. Your ordinary income tax rate is 25% and your capital gains tax rate is 20%. Your after-tax rate of return is (6 points)

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