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Consider a stock that is expected to pay a dividend of $1.55 a year from now. The current price of the stock is $49.81. The

Consider a stock that is expected to pay a dividend of $1.55 a year from now. The current price of the stock is $49.81. The expected rate of return on the stock is 10.9%. What must be the expected growth rate of the dividends? Enter your answer as a percentage. Do not enter the percentage sign into your answer.

Enter your response below rounded to 2 DECIMAL PLACES.

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