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The common stock of Cranberry Inc. is selling for $22.60 on the open market. Next years dividend is expected to be $2.50, and the growth

The common stock of Cranberry Inc. is selling for $22.60 on the open market. Next years dividend is expected to be $2.50, and the growth rate of this company is estimated to be 7%. If Richard Dean, an average investor is considering purchasing this stock at the market price, what is his expected rate of return

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