Question: Problem 7-2 Stock Values (LO 1) The next dividend payment by Hoffman, Inc., will be $2.70 per share. The dividends are anticipated to maintain a

Problem 7-2 Stock Values (LO 1) The next dividend payment by Hoffman, Inc., will be $2.70 per share. The dividends are anticipated to maintain a growth rate of 6.75 percent forever. If the stock currently sells for $49.00 per share, what is the required return? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Required return 12.63 %

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