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Suppose a company just paid dividend of $2.41. The dividend is expected to grow at 6.35% each year. If the stock is currently selling for

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Suppose a company just paid dividend of $2.41. The dividend is expected to grow at 6.35% each year. If the stock is currently selling for $80.29, what is the required rate of return on the stock? Enter your answer as a percentage rounded off to two decimal points. Do not enter % in the answer box

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