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Duke Energy has been paying dividends steadly for 20 years. During that time, dividends have grown at a compound annual rate of 5%. If Duke

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Duke Energy has been paying dividends steadly for 20 years. During that time, dividends have grown at a compound annual rate of 5%. If Duke Enengys current stock price is \$80 and the firm plans to pay a dividend of $5.20 next year, what is the required return on Duka's common stock? The required retum on Duke's common stock is \%. (Round to two decimal ploces,)

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