Question: Problem 7-2 Stock Values (LO 1] The next dividend payment by Hoffman, Inc., will be $2.85 per share. The dividends are anticipated to maintain a

Problem 7-2 Stock Values (LO 1] The next dividend payment by

Problem 7-2 Stock Values (LO 1] The next dividend payment by Hoffman, Inc., will be $2.85 per share. The dividends are anticipated to maintain a growth rate of 5.00 percent forever. If the stock currently sells for $49.30 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 %

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