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An investor is considering purchasing shares of a company that is selling for $57.90 per share. The companys dividend payout has historically been 45% and

An investor is considering purchasing shares of a company that is selling for $57.90 per share. The company’s dividend payout has historically been 45% and it has 6 million common shares outstanding. Recent annual after-tax earnings were $18.5 million. If this investor purchases the shares of this company, what will be the dividend yield on this investment?

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