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Gremlin Industries will pay a dividend of $1.80 per share at the end of this year. It is expected that this dividend will grow by

Gremlin Industries will pay a dividend of $1.80 per share at the end of this year. It is expected that this dividend will grow by 4% per year in the future. The current price of Gremlin's stock is $22.40 per share. What is Gremlin's required rate of return on equity

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