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Suppose GDL just paid a dividend of $4 and the required return on the stock is 12%. What constant growth rate must investors expect if

Suppose GDL just paid a dividend of $4 and the required return on the stock is 12%. What constant growth rate must investors expect if the stock currently sells for $56? Hint: This is an algebra problem. Answer to 4 decimal places, for example 0.1234.

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