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A firm will pay a $4.80 dividend at the end of year one, has a share price of $80, and a constant growth rate of

A firm will pay a $4.80 dividend at the end of year one, has a share price of $80, and a constant growth rate of 5 percent.

Compute the required (expected) rate of return. (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Required rate of return %

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