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McDonnell Manufacturing is expected to pay a dividend of $1.70 per share at the end of the year (D1=$1.70). The stock sells for $38.20 per
McDonnell Manufacturing is expected to pay a dividend of $1.70 per share at the end of the year (D1=$1.70). The stock sells for $38.20 per share now, and its required rate of return is 13.0%. The dividend is expected to grow at some constant rate, g, forever. What is the expected growth rate per year? Answer in decimal format to 4 decimal places (i.e. not 12.34 but .1234)
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