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If the next year's dividend is projected to be $3.40, the current stock price is $85 and the cost of equity is estimated at 7%,
If the next year's dividend is projected to be $3.40, the current stock price is $85 and the cost of equity is estimated at 7%, what is the expected dividend growth rate? \begin{tabular}{l} 3% \\ \hline 8% \\ \hline 11% \\ \hline 30% \end{tabular}
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