Question: GM is expected to pay a $3.00 per-share dividend at the end of the year (D 1 = $3.00). The stock sells for $150 per

GM is expected to pay a $3.00 per-share dividend at the end of the year (D₁ = $3.00). The stock sells for $150 per share and its required rate of return is 14 percent. The dividend is expected to grow at a constant rate, g, forever. What is the growth rate, g, for this stock? Must Show work

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