Question: A stock is expected to pay a dividend next year of $1.9. The dividend amount is expected to grow at an annual rate of 6.4%

A stock is expected to pay a dividend next year of $1.9. The dividend amount is expected to grow at an annual rate of 6.4% indefinitely. Assuming a required return on the stock of 8.7% in the future, the dividend yield on the stock is ______%.

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