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Tiger Inc.'s stock is selling for $31 per share and is expected to pay a dividend of $2 per share at the end of the

Tiger Inc.'s stock is selling for $31 per share and is expected to pay a dividend of $2 per share at the end of the year. Based on the riskiness of Tiger's stock, its required rate of return is 11.5%. What is the constant growth rate of dividend?

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