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(Common stock valuation) Bates Inc. pays a dividend of $2.00 and is currently selling for $31.10. If investors require a return of 16 percent on

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(Common stock valuation) Bates Inc. pays a dividend of $2.00 and is currently selling for $31.10. If investors require a return of 16 percent on their investment from buying Bates stock, what growth rate would Bates Inc. have to provide the investors

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