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A stock just paid a dividend of $1.50 per share. A perpetual dividend growth rate is expected to be 3% per year. The current stock

A stock just paid a dividend of $1.50 per share. A perpetual dividend growth rate is expected to be 3% per year. The current stock price is $15 per share. Compute the required rate of return for this stock.

PLEASE INCLUDE EXPLANATION AND WALK THROUGH SO I CAN LEARN FROM IT :) Thanks!

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