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how to calculate If Pepperdine, Inc.'s return on equity is 14 percent and the management plans to retain 55 percent of earnings for investment purposes,

how to calculate If Pepperdine, Inc.'s return on equity is 14 percent and the management plans to retain 55 percent of earnings for investment purposes, what will be the firm's growth rate? I know the answer but want to understand how to get to it. 7.70%

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