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The shares of Dyer Drilling Co. sell for $15. The firm has a P/E ratio of 20, and 30 percent of earnings are paid out

The shares of Dyer Drilling Co. sell for $15. The firm has a P/E ratio of 20, and 30 percent of earnings are paid out in dividends.

What is the dividend yield? (Do not round intermediate calculations. Round the final answer to 2 decimal places.)

Dividend yield % ?

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