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The next dividend payment by Hoffman, Inc., will be $2.95 per share. The dividends are anticipated to maintain a growth rate of 5.5 percentforever. Assume

The next dividend payment by Hoffman, Inc., will be $2.95 per share. The dividends are anticipated to maintain a growth rate of 5.5 percentforever. Assume the stock currently sells for $49.50 per share.

What is the expected capital gains yield?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places)

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