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American Outfitters recently paid a $3.80 dividend. The dividend is expected to grow at 2.5%. At the current stock price of $40, what is the

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American Outfitters recently paid a $3.80 dividend. The dividend is expected to grow at 2.5%. At the current stock price of $40, what is the return shareholders are expecting? (Round your answer to 2 decimal places. Do not include a percentage sign.)

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