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The next dividend payment by Im, Incorporated, will be $3.10 per share. The dividends are anticipated to maintain a growth rate of 3.75 percent forever.

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The next dividend payment by Im, Incorporated, will be $3.10 per share. The dividends are anticipated to maintain a growth rate of 3.75 percent forever. If the stock currently sells for $49.80 per share, what is the required return? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.9., 32.16

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