Question: Grape Co. has a stock that has a current price of $58.94. A year from now, the stock is expected to pay a dividend of

Grape Co. has a stock that has a current price of $58.94. A year from now, the stock is expected to pay a dividend of $2.6 and the price will be $61.67. What is the expected rate of return for this stock? Enter your answer as a percentage. Do not include the percentage sign in your answer.

Enter your response below rounded to 2 DECIMAL PLACES.

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