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Bates Inc. pays a dividend of $0.75 and is currently selling for $39.45. If investors require a return of 11 percent on their investment from

Bates Inc. pays a dividend of $0.75 and is currently selling for $39.45. If investors require a return of 11 percent on their investment from buying Bates stock, what growth rate would Bates Inc. have to provide the investors?

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