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Question - The following is an extract of the reformulated financial statements of Lupo PLC.
£ millions
20X1
20X2
20X3
20X4
Operating income
187
200
214
229
Net operating assets
1,214
1,300
1,390
1,500
Required return on operations
11.00%
Required - Using the growth in residual earnings from 20X3 to 20X4, state the growth rate of Lupo PLC.
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