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A stock sells for $50.00. The next dividend will be $4.00 per share. If the return on equity is 15% and the company reinvests 60%

A stock sells for $50.00. The next dividend will be $4.00 per share. If the return on equity is 15% and the company reinvests 60% of its earnings back into the company, what must the discount rate be?

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