Columbus Manufacturing's stock currently sells for $ 24.57 a share. The stock just paid a...
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Columbus Manufacturing's stock currently sells for $ 24.57 a share. The stock just paid a dividend of $2 a share (i.e.,D0=2). The dividend is expected to grow at a constant rate of 3 % a year. What is the required rate of return on the company's stock? Express your answer in percentage, and round it to two decimal places, i.e., 13.54, for example for 0.1354)
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