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Problem 10-16 Required Return (LG10-7) Universal Forests current stock price is $68.00 and it is likely to pay a $0.27 dividend next year. Since analysts

Problem 10-16 Required Return (LG10-7)

Universal Forests current stock price is $68.00 and it is likely to pay a $0.27 dividend next year. Since analysts estimate Universal Forest will have a growth rate of 12.0 percent, what is its required return? (Round your answer to 2 decimal places.)

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