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High Yield, Inc. is well know for paying very large annual dividends to its shareholders. The firm just paid a dividend of $100 per share

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High Yield, Inc. is well know for paying very large annual dividends to its shareholders. The firm just paid a dividend of $100 per share yesterday and the next dividend will be paid one year from today. Investors expect dividends to grow at a constant rate, forever. The firm's stock has a beta of 2, the risk-free rate is 5%, and market risk premium is 9%. If the current stock price is $500 per share, what is the expected growth rate of High Yield's dividends? ENTER YOUR ANSWER IN DECIMAL FORM (e.g., 5.1% would be entered as 0.051) AND ROUND YOUR ANSWER TO THREE DECIMAL PLACES. Numeric Response

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