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The market price of a stock is $30.97 and it is expected to pay a $3.56 dividend next year. The dividend is expected to grow

The market price of a stock is $30.97 and it is expected to pay a $3.56 dividend next year. The dividend is expected to grow at 4.58% forever. What is the required rate of return for the stock?

Answer format: Percentage Round to: 0 decimal places

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