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ortion of its capital budget. Its expected dividend next year (D1) is $2, and the current stock price is $27. What is the company's expected

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ortion of its capital budget. Its expected dividend next year (D1) is $2, and the current stock price is $27. What is the company's expected growth rate? Do not round intermediate calculations. Round your answer to two decimal places. 3% Growth rate =(1 Payout ratio ) ROE %

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