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The next dividend payment by DEF, Inc., will be $1.03 per share. The dividends are anticipated to maintain a growth rate of 5.93 percent forever.

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The next dividend payment by DEF, Inc., will be $1.03 per share. The dividends are anticipated to maintain a growth rate of 5.93 percent forever. If the stock currently sells for $41.04 per share, what is the required return (in percent)? Answer to at least three decimals

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