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IBIS Corporation has had dividends grow from $2.50 per share to $6.85 per share over the last 10 years (the $6.85 per share dividend was
IBIS Corporation has had dividends grow from $2.50 per share to $6.85 per share over the last 10 years (the $6.85 per share dividend was paid yesterday; that is, D0 = $6.85). This compounded annual growth rate in dividends is expected to continue into the future forever. If the current market price of IBISs stock is $54.00 per share, what rate of return do investors expect to receive from buying IBIS stock? (Record your answer rounded to 1 decimal place; for example, record 18.29654% as 18.3).
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