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SHOW STEP BY STEP WORK ANSWER IS 11.62% A common stock is selling for $60 and paid a $3 dividend last year. Its value is

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SHOW STEP BY STEP WORK ANSWER IS 11.62%

A common stock is selling for $60 and paid a $3 dividend last year. Its value is expected to increase each year at 6.3% growth rate. What is the expected rate of return

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