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Problem 8-18 Dividend Growth (LG8-5) Annual dividends of Generic Electrical grew from $0.74 in 2012 to $1.11 in 2017. What was the annual growth rate?

Problem 8-18 Dividend Growth (LG8-5) Annual dividends of Generic Electrical grew from $0.74 in 2012 to $1.11 in 2017. What was the annual growth rate? (Round your answer to 2 decimal places.)

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