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The Company expects to announce their annual dividend of $ 2 next year and promises to increase its dividends at 2.76 % perpetually. even though

The Company expects to announce their annual dividend of $ 2 next year and promises to increase its dividends at 2.76 % perpetually. even though you believe the required return on the stock is 12.56 % due to market conditions, you must purchase the stock for $ 7 above the intrinsic value today. At this higher purchase price, what is your expected rate of return (enter the number as a percentage)?

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