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Q 10: The common stock of Mandarin Inc. is selling for $24.35 on the open market. Next year's dividend is expected to be $2.48, and

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Q 10: The common stock of Mandarin Inc. is selling for $24.35 on the open market. Next year's dividend is expected to be $2.48, and the growth rate of this company is estimated to be 4.5%. If Robert Miller, an average investor, is considering purchasing this stock at the market price, what is his expected rate of return? (10 marks)

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