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A company has announced that it will be paying a dividend of 1.50/share in one year. Its price-per-share in the market is now 40. Suppose

A company has announced that it will be paying a dividend of 1.50/share in one year. Its price-per-share in the market is now 40. Suppose you know the market assigns a 10% discount rate to this company's expected future cash flows. From this, you can infer that the market expects this dividend to grow at an annual rate of:

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