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Problem 10-15 Required Return (LG10-7) Suppose Paccar's current stock price is $78.16 and it is likely to pay a $4.18 dividend next year. Since analysts

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Problem 10-15 Required Return (LG10-7) Suppose Paccar's current stock price is $78.16 and it is likely to pay a $4.18 dividend next year. Since analysts estimate Paccar will have a 12.4 percent growth rate, what is its required return? (Round your answer to 2 decimal places.) Required return

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