Question: Problem 7-14 Constant-Growth Model (LO2) Arts and Crafts, Inc. will pay a dividend of $4 per share in 1 year. It sells at $80 a

Problem 7-14 Constant-Growth Model (LO2) Arts and Crafts, Inc. will pay a dividend of $4 per share in 1 year. It sells at $80 a share, and firms in the same industry provide an expected rate of return of 15%. What must be the expected growth rate of the company's dividends? (Do not round intermediate calculations. Enter your answer as a whole percent.) Expected growth rate %

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