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Shares of XYZ currently trade at $19.49 and pay $2.07 in dividends annually. If the required return is 12.62% and the market uses the dividend

Shares of XYZ currently trade at $19.49 and pay $2.07 in dividends annually. If the required return is 12.62% and the market uses the dividend discount model to price this stock, what is the implied growth rate of the dividend?

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