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Avatar Manufacturing's stock currently sells for $65.21 a share. The stock just paid a dividend of $5.87 a share, and the dividend is expected to

Avatar Manufacturing's stock currently sells for $65.21 a share. The stock just paid a dividend of $5.87 a share, and the dividend is expected to grow forever at a constant rate of 5% a year. What is the estimated required rate of return on the company's stock? (answer positive number with two decimals and no percentage sign)

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