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The stock price of Alps Co. is $53.70. Investors require a return of 15 percent on similar stocks.If the company plans to pay a dividend

The stock price of Alps Co. is $53.70. Investors require a return of 15 percent on similar stocks.If the company plans to pay a dividend of $3.50 next year, what growth rate is expected for the company's stock price?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Growth Rate?

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