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Must show work... A certain stock has a Return on Equity of 15%, an expected dividend at the end of the year of $2.45, and

Must show work...

A certain stock has a Return on Equity of 15%, an expected dividend at the end of the year of $2.45, and a retention rate of 65%. If the stock's current market price is $108.89, then what is the market's implied market cap rate for this stock?

12.75%
11.25%
11.5%
12.0%

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