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The common stock of Wetmore Industries is valued at $36.5 a share. The company increases their dividend by3.6 percent annually and expects their next dividend

The common stock of Wetmore Industries is valued at $36.5 a share. The company increases their dividend by3.6 percent annually and expects their next dividend to be $1.1. What is the required rate of return on this stock? That is, solve for r.

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