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  3. a company currently pays a dividend of $1.28 which

A company currently pays a dividend of $1.28 which is expected to grow indefinitely at...

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Finance

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A company currently pays a dividend of $1.28 which is expected to grow indefinitely at a constant rate. If the current value of the company's shares based on the constant-growth dividend-discount model is $26.27 and the required rate of return for the company's shares is 21.14%, the expected dividend growth rate is % per year. (Note: answer must be accurate to 2 decimal places.)

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