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CB Industries stock is valued at $16.16 a share. The firm pays annual dividends at an increasing rate of 4.6 percent annually. Next year's dividend

CB Industries stock is valued at $16.16 a share. The firm pays annual dividends at an increasing rate of 4.6 percent annually. Next year's dividend will be $1.8 per share. What is the percentage required return on this stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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