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Paychex Incorporated (PAYX) recently paid a dividend of $0.86. The dividend is expected to grow at a 15 eercent rate. The current stock price is

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Paychex Incorporated (PAYX) recently paid a dividend of $0.86. The dividend is expected to grow at a 15 eercent rate. The current stock price is $62.91. What is the return shareholders are expecting? Note: Do not round intermediate calculations. Round your answer to 2 decimal places

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