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Foxburo Company expects to pay a $2.34 per share dividend this year on its common stock. The current market value of Foxburo stock is $32.50

Foxburo Company expects to pay a $2.34 per share dividend this year on its common stock. The current market value of Foxburo stock is $32.50 per share. Compute the expected dividend yield on the Foxburo stock. Would you classify the Foxburo stock as a growth or an income stock? Explain.

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