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Suppose a company plans to pay $2.00 per share dividend next year. The required rate is 7.30%. If the stock is currently selling for $60.61,

Suppose a company plans to pay $2.00 per share dividend next year. The required rate is 7.30%. If the stock is currently selling for $60.61, what is the current implied growth rate.

please provide formula and step by step solution...thanks on advance

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