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The next dividend payment by DEF, Inc., will be $1.68 per share. The dividends are anticipated to maintain a growth rate of 4.28 percent forever.

The next dividend payment by DEF, Inc., will be $1.68 per share. The dividends are anticipated to maintain a growth rate of 4.28 percent forever. If the stock currently sells for $38.91 per share, what is the required return (in percent)? Answer to at least three decimals. (no excel)

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