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Jake's Real Estate just paid a dividend of $4.50, and their common stock is priced at $64.30 per share. There are 466,000 shares of common

Jake's Real Estate just paid a dividend of $4.50, and their common stock is priced at $64.30 per share. There are 466,000 shares of common stock outstanding, and dividends are expected to grow at 3.99 percent annually. Calculate the required return on equity.

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