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Commons, Inc. provides the following information for 2018: Net income $36,000 Market price per share...

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Accounting

Commons, Inc. provides the following information for 2018: Net income $36,000 Market price per share of common stock $16/share Dividends paid $0.70/share Common stock outstanding at Jan. 1, 2018 130,000 shares Common stock outstanding at Dec. 31, 2018 165,000 shares The company has no preferred stock outstanding. Calculate the dividend yield for common stock. (Round your answer to two decimal places.)

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