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Gray Manufactunng is expected to pay a dividend of $1.20 per share at the end of the year (D1=31.20), The stock sells for $30.00 per

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Gray Manufactunng is expected to pay a dividend of $1.20 per share at the end of the year (D1=31.20), The stock sells for $30.00 per share, and its required rate of refurn is 10.5\%. The dividend is expected to grow at some constant rate, 9. forever. What is the equilibrium expected growth rate? a. 6.50% b. 6.88% C. 4,42% 1. 4.00% 2. 3.62%

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