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Home Products common stock sells for $ 3 2 . 9 a share and has a market rate of return of 1 2 . 4

Home Products common stock sells for $32.9 a share and has a market rate of return of 12.4 percent. The company just paid an annual dividend of $2.71 per share. What is the dividend growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)

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