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Asset Alpacas Co . just paid a dividend of $ 1 . 5 0 per share. The expected dividend growth rates for the next three

Asset Alpacas Co. just paid a dividend of $1.50 per share. The expected dividend growth rates for the next three years are 10%,20%, and 15%, respectively. Following Year 4, dividends are anticipated to grow at a constant 5% annual rate forever. The stock's beta is 2, the market return is 15%, and the risk-free rate is 5%. Assume that all estimates remain constant over time and the stock is always priced at its fair value. If you purchase the stock today and sell it in Year 4 right after you receive the fourth dividend, your holding period return will be ____%?

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