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Problem 7-4 Constant-Growth Model (LO3) Waterworks has a dividend yield of 14.78%. If its dividend is expected to grow at a constant rate of 33.33%,

Problem 7-4 Constant-Growth Model (LO3)

Waterworks has a dividend yield of 14.78%. If its dividend is expected to grow at a constant rate of 33.33%, what must be the expected rate of return on the companys stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Expected rate of return %

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