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(Measuring growth) If Pepperdine, Inc.'s return on equity is 15 percent and the management plans to retain 56 percent of earnings for investment purposes, what

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(Measuring growth) If Pepperdine, Inc.'s return on equity is 15 percent and the management plans to retain 56 percent of earnings for investment purposes, what will be the firm's growth rate? The firm's growth rate will be %. (Round to two decimal places.)

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