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You observe that Matchbox Industries has a stock price of 48.52. It pays its dividend yearly, and its last dividend paid was $3.00. The dividend

You observe that Matchbox Industries has a stock price of 48.52. It pays its dividend yearly, and its last dividend paid was $3.00. The dividend is expected to grow by 3.0% yearly. Calculate Matchboxs expected rate of return. If possible please show the steps.

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