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The stock price of Fujita Company is $ 5 4 . 3 0 . Investors require a return of 1 3 percent on similar stocks.

The stock price of Fujita Company is $54.30. Investors require a
return of 13 percent on similar stocks. If the company plans to pay
a dividend of $3.80 next year, what growth rate is expected for the
companys stock price? Note: Do not round intermediate calculations
and enter your answer as a percent rounded to 2 decimal places,
e.g.,32.16.

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