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Apples ROE is 29.77%, and its payout ratio is 41.6%. Based on this information, what is the annual earnings growth rate for Apple? Express your

Apples ROE is 29.77%, and its payout ratio is 41.6%. Based on this information, what is the annual earnings growth rate for Apple? Express your answer in percent.

Do not round at intermediate steps in your calculation. Round to two decimal places. Do not type the % symbol.

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