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Backford Company just paid a dividend yesterday of $3.25 per share. The company's stock is currently selling for $55 per share, and the required rate

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Backford Company just paid a dividend yesterday of $3.25 per share. The company's stock is currently selling for $55 per share, and the required rate of return on Backford Company stock is 16%. What is the growth rate expected for Backford Company dividends assuming constant growth? 10.47% 9.53% 10.87% 1181%

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