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Given the following information for the stock of Foster Company, calculate the risk premium on its common stock. Current price per share of common stock

Given the following information for the stock of Foster Company, calculate the risk premium on its common stock.

Current price per share of common stock $46.88 Expected dividend per share next year $4.57 Constant annual dividend growth rate 6.5% Risk-free rate of return 7.6%

The risk premium on Foster stock is ?

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