What is the required rate of return on the stock

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Suppose a company is expected to pay a dividend of $10.35 next year. The dividend is expected to grow at 11.96% each year. If the stock is currently selling for $274.8, what is the required rate of return on the stock?

Enter your answer as a percentage rounded off to two decimal points. Do not enter % in the answer box.

Reference no: EM132376412

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