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Universal Forests current stock price is $70.50 and it is likely to pay a $0.52 dividend next year. Since analysts estimate Universal Forest will have

Universal Forests current stock price is $70.50 and it is likely to pay a $0.52 dividend next year. Since analysts estimate Universal Forest will have a growth rate of 11.8 percent, what is its required return? (Round your answer to 2 decimal places.)

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