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The stock price of XYZ Co . is $ 3 8 . 4 1 . Investors require a 8 . 2 4 percent rate of

The stock price of XYZ Co. is $38.41. Investors require a 8.24 percent rate of return on similar stocks. If the company plans to pay a dividend of $5.46 next year, what constant growth rate (in percent) is expected for the company's stock price?
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