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CCR stock is currently trading for $72.42 per share. The firm is expected to pay...

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Finance

CCR stock is currently trading for $72.42 per share. The firm is expected to pay a dividend of
$3.65 per share in one year and to increase the dividend at 4.1% each year thereafter. Based
on the Dividend Growth Model, what the the annual required rate of return for CCR stock?
Answer as a % to 2 decimal places (e.g., 12.34% as 12.34).

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