Question: The next dividend payment (D1) will be $2.85 per share. The dividends are anticipated to maintain a constant growth rate of 5.00 percent. If the

The next dividend payment (D1) will be $2.85 per share. The dividends are anticipated to maintain a constant growth rate of 5.00 percent.

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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