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The next dividend payment by ECY Inc. will be $1.84 per share. The dividends are anticipated to maintain a 5 percent growth rate, forever. ECY

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The next dividend payment by ECY Inc. will be $1.84 per share. The dividends are anticipated to maintain a 5 percent growth rate, forever. ECY stock currently sells for $36 per share. What is the required return? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Required return %

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