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Suppose currently Facebook's common stock is selling for $267. If the company gave $2.15 dividend this year and it plans to grow the dividend by
Suppose currently Facebook's common stock is selling for $267. If the company gave $2.15 dividend this year and it plans to grow the dividend by 7% every year. Given the information what is the market's required rate of return for the stock? (Round your answer to two decimal points)
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