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Eastern Electric currently pays a dividend of $ 1 . 9 1 per share and sells for $ 3 0 a share. If the sustainable

Eastern Electric currently pays a dividend of $1.91 per share and sells for $30 a share. If the sustainable growth rate is 4% and the plowback ratio is 0.4, what must be the rate of return earned by the firm on its new investments?
Note: Enter your answer as a percent rounded to 2 decimal places.

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