Question: Problem 8-22 Expected Return (LG8-5) Paychex Inc. (PAYX) recently paid a dividend of $0.82. The dividend is expected to grow at a 15 percent rate.

Problem 8-22 Expected Return (LG8-5) Paychex Inc. (PAYX) recently paid a

Problem 8-22 Expected Return (LG8-5) Paychex Inc. (PAYX) recently paid a dividend of $0.82. The dividend is expected to grow at a 15 percent rate. The current stock price is $60.51. What is the return shareholders are expecting? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Shareholders return %

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