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The stock price of Fujita Company is ( $ 5 4 . 7 0 ) . Investors require a return of 1

The stock price of Fujita Company is \(\$ 54.70\). Investors require a return of 13 percent on similar stocks. If the company plans to pay a dividend of \(\$ 4.00\) next year, what growth rate is expected for the company's stock price?
Note: 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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