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Consider a stock that that is expected to pay a dividend of $1.43 a year from now. The dividend is expected to grow at a
Consider a stock that that is expected to pay a dividend of $1.43 a year from now. The dividend is expected to grow at a constant rate of 2.2% per year. The current price of the stock is $31.64. 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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