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FFC stock is currently selling for $34.00. It is expected to pay a dividend of $2.00 at the end of the year. Dividends are expected

FFC stock is currently selling for $34.00. It is expected to pay a dividend of $2.00 at the end of the year. Dividends are expected to grow at a constant rate of 4.5% indefinitely. Compute the expected rate of return on FFC stock. Why is the answer: 10.38% and not 10.6471%?

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