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GlaxoSmithKline plc (ticker:GSK) will pay a dividend of $1.89 per sharein one year. The stocks recent closing price was $37.24. If dividends are expected to

GlaxoSmithKline plc (ticker:GSK) will pay a dividend of $1.89 per sharein one year. The stocks recent closing price was $37.24. If dividends are expected to grow at 6% per year, what is the estimated expected return for the stock? In other words, what is the estimated discount rate?

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