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Foxburo Company expects to pay a $3.24 per share cash dividend this year on its common stock. The current market value of Foxburo stock is

Foxburo Company expects to pay a $3.24 per share cash dividend this year on its common stock. The current market value of Foxburo stock is $40.50 per share. Compute the expected dividend yield. If a competitor with a dividend yield of 3% is considered an income stock, would we classify Foxburo as a growth or an income stock?

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