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Toronto Skates Inc.'s common stock is selling at $22.22 per share. Investors expect to receive a dividend of $1.80. The 90-day government T-bill yield is

Toronto Skates Inc.'s common stock is selling at $22.22 per share. Investors expect to receive a dividend of $1.80. The 90-day government T-bill yield is 4.3 percent. What is the dividend growth rate if the risk premium on comparable companies is 6.2 percent?

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