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Arts and Crafts, Incorporated will pay a dividend of $4 per share in 1 year. It sells at $50 a share, and firms in the

Arts and Crafts, Incorporated will pay a dividend of $4 per share in 1 year. It sells at $50 a share, and firms in the same industry provide an expected rate of return of 16%. What must be the expected growth rate of the companys dividends?

expected growth ----------% ??

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