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Show the work please. # 24 The market price of a stock is $28.55 and it is expected to pay a $2.36 dividend next year.

image text in transcribedShow the work please.

# 24 The market price of a stock is $28.55 and it is expected to pay a $2.36 dividend next year. The dividend is expected to grow at 4.04% forever. What is the required rate of return for the stock? Submit Answer format: Percentage Round to: 0 decimal places (Example: 9%, % sign required. Will accept decimal format rounded to 2 decimal places (ex: 0.09))

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