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Use the Dividend Discount Model to determine the expected annual growth rate of the dividend for ELO stock. The firm is expected to pay an

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Use the Dividend Discount Model to determine the expected annual growth rate of the dividend for ELO stock. The firm is expected to pay an annual divided of $14.18 per share in one year. ELO shares are currently trading for \$133.27 on the NYSE, and the expected annual rate of retum for ELO shares is 16.47%. Answer as a \% to 2 decimal places (e.g., 12.34\% as 12.34)

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