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Problem 4-9 Dividend discount model Company Y does not plow back any earnings and is expected to produce a level dividend stream of $70 a

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Problem 4-9 Dividend discount model Company Y does not plow back any earnings and is expected to produce a level dividend stream of $70 a share. If the current stock price is $42.0, what is the market capitalization rate? (Enter your answer as a percent rounded to 2 decimal place.) % Market capitalization rate

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