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Shares of Pablo Rada, Inc. sell for $28.11 each. The company will pay a $3.00 per share dividend next year. Investors expect Pablo Rada will

Shares of Pablo Rada, Inc. sell for $28.11 each. The company will pay a $3.00 per share dividend next year. Investors expect Pablo Rada will increase this dividend by 5.1 percent annually in perpetuity. What is the required annual return on this stock? 

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