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On June 30, Rae Corporation had a market price of $22 per share of common stock. For the previous year, Rae paid an annual dividend

On June 30, Rae Corporation had a market price of $22 per share of common stock. For the previous year, Rae paid an annual dividend of $0.88. Compute the dividend yield for Rae Corporation. If necessary, round your answer to two decimal places. %

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