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The shares of the Dyer Drilling Co. sell for $125. The firm has a P/E ratio of 25. Thirty percent of earnings is paid out

The shares of the Dyer Drilling Co. sell for $125. The firm has a P/E ratio of 25. Thirty percent of earnings is paid out in dividends.

What is the firm's dividend yield?(Do not round your intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

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