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Suppose currently Samsung's common stock is selling for $ 2 7 2 . The company announced that it will give $ 2 . 1 9

Suppose currently Samsung's common stock is selling for $ $272 .$ The company announced that it will give $ $2.19$ dividend next year and it plans to grow the dividend by $5 %$ 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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