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Consider a stock that that has just paid a dividend of $1.45. The dividend is expected to grow at a constant rate of 2.5% every

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Consider a stock that that has just paid a dividend of $1.45. The dividend is expected to grow at a constant rate of 2.5% every year. The current price of the stock is $33.26. What rate of return are investors expecting? Enter your answer as a percentage. Do not include the percentage sign in your answer. Enter your response below rounded to 2 DECIMAL PLACES

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