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Suppose a company is expected to pay a dividend of $11.43 next year. The dividend is expected to grow at 6.34% each year. If the

Suppose a company is expected to pay a dividend of $11.43 next year. The dividend is expected to grow at 6.34% each year. If the stock is currently selling for $45.34, what is the dividend yield?

Enter your answer as a percentage rounded off to two decimal points. Do not enter % in the answer box.

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