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A Mature Corp. has stock which costs $42.75 per share. The company expects to pay a dividend of $2.20 per share this coming year and

A Mature Corp. has stock which costs $42.75 per share. The company expects to pay a dividend of $2.20 per share this coming year and the dividends are expected to grow at some constant growth rate thereafter The company's cost of equity capital is 11%. 


What is the expected annual growth rate of the company's dividends?

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