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Quixy Corp. is expected to pay a dividend next year of $0.77 per share. The dividend is expected to grow at a constant rate of

Quixy Corp. is expected to pay a dividend next year of $0.77 per share. The dividend is expected to grow at a constant rate of 3% per year. If Quixy Corp. stock is selling for $46.51 per share, what is the stockholders' expected rate of return? Submit your answer as a percentage and round to two decimal places (Ex. 0.00%).

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