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Misty Island Co. just paid its dividend of $2 per share. The dividend is expected to grow at a constant rate. The required rate of

Misty Island Co. just paid its dividend of $2 per share. The dividend is expected to grow at a constant rate. The required rate of return of the stock is 12%, and the current price is $42.80. What is the stocks growth rate of dividend?

7.00%

4.67%

7.33%

11.67%

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