What is the required rate of return on stock

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The common stock of Wetmore Industries is valued at $32.8 a share. The company increases their dividend by 3.5 percent annually and expects their next dividend to be $0.9. What is the required rate of return on this stock? That is, solve for r.

Note: Enter your answer rounded off to two decimal points. Do not enter % in the answer box. For example, if your answer is 0.12345 then enter as 12.35 in the answer box.

Reference no: EM131966772

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