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P&G common shares are selling for $52.50. They are expected to pay a dividend of $2.25 next year and dividends should grow at a rate

P&G common shares are selling for $52.50. They are expected to pay a dividend of $2.25 next year and dividends should grow at a rate of 7% annually. What is your required rate of return on an investment in P&G common shares?

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