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Ray Manufacturing is expected to pay a dividend of $1.25 per share at the ...

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Accounting

Ray Manufacturing is expected to pay a dividend of $1.25 per share at the
end of the year (D1= $1.25). The stock sells for $32.50 per share, and its
required rate of return is 10.5%. The dividend is expected to grow at some
constant rate, g, forever. What is the expected growth rate?

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