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Gssume ExxbnMobi's price dropped to $39 ovemight. Given the dividend growth rave of ExoonMobil of 7.00% and the last arnual dividend of $1.35, what is

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Gssume ExxbnMobi's price dropped to $39 ovemight. Given the dividend growth rave of ExoonMobil of 7.00% and the last arnual dividend of $1.35, what is the inplied requited rate of eturn necessary to justify the new lowes market prion of \$39? What is the implied required rate of ietum necessary to justify the new lower market price of $39? \%. (Round to two decimal places)

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