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Mastercard Inc.s stock has a required return of 1 1 % and the stock is currently priced at $ 8 8 per share. Mastercard just

Mastercard Inc.s stock has a required return of 11% and the stock is currently priced at $88 per share. Mastercard just paid a dividend of $1.75, and they have announced that they plan to increase its dividend payment at a rate of 25% per year for the next 3 years. After Year 3, they expect the dividend growth rate to slow down from the 25% to a more modest constant growth rate of X% per year going forward forever. What is the constant growth rate that Mastercard is expecting after Year 3(i.e., what Is x

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