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Healthy Foods just paid its annual dividend of $1.62 a share. The firm recently announced that all future dividends will be increased by a fixed

Healthy Foods just paid its annual dividend of $1.62 a share. The firm recently announced that all future dividends will be increased by a fixed percent annually. If one share of this stock is worth $12.16 to you, what is the growth rate of dividends. Assume you require a rate of return of 15.7 percent from the stock. (Enter the answer as a percentage accurate to two decimal places.)

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