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The common stock of Free Motion Enterprises currently sells for $29.37 a share. The stock is expected to pay an annual dividend of $1.2 per
The common stock of Free Motion Enterprises currently sells for $29.37 a share. The stock is expected to pay an annual dividend of $1.2 per share next year. The firm has established a pattern of increasing its dividends by 4 percent annually and expects to continue doing so.
The estimated market rate of return on this stock is _______ percent.
(round answer to whole number with two decimal points: i.e., use 1.23 percent instead of 0.0123)
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