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The stock price of Fujita Company is $53.80. Investors require a return of 12 percent...

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Finance

The stock price of Fujita Company is $53.80. Investors require a return of 12 percent on similar stocks. If the company plans to pay a dividend of $3.55 next year, what growth rate is expected for the companys stock price? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.

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