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The stock price of Elsinore Co. is $53.30. Investors require a 12% rate of return on similar stocks. If the company plans to pay a

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The stock price of Elsinore Co. is $53.30. Investors require a 12% rate of return on similar stocks. If the company plans to pay a dividend of $3.15 next year, what growth rate is expected for the company's stock price? O 4.6% We need more information to determine the growth rate. O 3.9% O 5.0% 06.1%

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