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Citigroup currently pays a dividend of $1.22, which is expected to grow indefinitely at 4%. If the current value of Citi's shares based on the

Citigroup currently pays a dividend of $1.22, which is expected to grow indefinitely at 4%. If the current value of Citi's shares based on the constant-growth dividend discount model is $32.03, what is the required rate of return?

Group of answer choices

9.00%

9.51%

7.96%

8.54%

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