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Prior, Inc., is expected to grow at a constant rate of 9 percent. If the company's next dividend is $2.75 and its current price is

Prior, Inc., is expected to grow at a constant rate of 9 percent. If the company's next dividend is $2.75 and its current price is $22.92, what is the required rate of return on this stock? (Do not round intermediate calculations. Round to the nearest percent.)

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