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A company recently paid a $0.85 dividend. The dividend is expected to grow at a 14.5 percent rate. At a current stock price of $32.55,

A company recently paid a $0.85 dividend. The dividend is expected to grow at a 14.5 percent rate. At a current stock price of $32.55, what return are shareholders expecting? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

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