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Problem 7-10 Growth Rates [LO 1] The stock price of Baskett Co. is $54.30. Investors require a return of 13 percent on similar stocks. If

Problem 7-10 Growth Rates [LO 1]

The stock price of Baskett Co. is $54.30. Investors require a return of 13 percent on similar stocks. If the company plans to pay a dividend of $3.80 next year, what growth rate is expected for the companys stock price? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Growth rate %

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