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The market price of a stock is $24.58 and it is expected to pay a dividend of $1.16 next year. The required rate of return

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The market price of a stock is $24.58 and it is expected to pay a dividend of $1.16 next year. The required rate of return is 11.53%. What is the expected growth rate of the dividend? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

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