Question: Problem 7-5 Stock Valuation [LO 1] Mitchell, Inc., is expected to maintain a constant 6.05 percent growth rate in its dividends, indefinitely. If the company

Problem 7-5 Stock Valuation [LO 1] Mitchell, Inc., is expected to

Problem 7-5 Stock Valuation [LO 1] Mitchell, Inc., is expected to maintain a constant 6.05 percent growth rate in its dividends, indefinitely. If the company has a dividend yield of 4.55 percent, what is the required return on the company's stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return

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