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MJ Co. has a plowback rate of 62% of its earnings as dividends. Its return on equity is 12%. What is the constant dividend growth

MJ Co. has a plowback rate of 62% of its earnings as dividends. Its return on equity is 12%. What is the constant dividend growth rate for the firm?

A. 12.00

B. 7.44

C. 5.10

D. 6.00

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