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A firm pays a current dividend of $1, which is expected to grow at a rate of 6% indefinitely. If the current value of the

A firm pays a current dividend of $1, which is expected to grow at a rate of 6% indefinitely. If the current value of the firm's shares is $106, what is the required return applicable to the investment based on the constant-growth dividend discount model (DOM)? (Do not round Intermediate calculations.) Required rate of retum %

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