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I have the answer below, can you explain this step by step. Answer is 3.75% but please explain how A firm's stock price is currently

I have the answer below, can you explain this step by step.

Answer is 3.75% but please explain how
A firm's stock price is currently $48 per share. The company will pay a $3 dividend next year and investors require a 10% rate of return for investing in this stock, what is the growth rate that investors anticipate for this company's dividends

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