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Next year Steady As She Goes, Inc., is expected to pay a year-end dividend of $1.65 per share. Investors expect the dividend to grow at
Next year Steady As She Goes, Inc., is expected to pay a year-end dividend of $1.65 per share. Investors expect the dividend to grow at a rate of 6.8% indefinitely. a. If the stock currently sells for $97.059 per share, what is the expected rate of return on the stock? (Do not round intermediate calculations.) Expected rate of return % b. If the expected rate of return on the stock is 8.419%, what is the stock price? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Stock price $
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