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Youve recently learned that the company where you work is being sold for $525,000. The...

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Accounting

Youve recently learned that the company where you work is being sold for $525,000. The companys income statement indicates current profits of $22,000, which have yet to be paid out as dividends. Assuming the company will remain a going concern indefinitely and that the interest rate will remain constant at 6 percent, at what constant rate does the owner believe that profits will grow? Instruction: Enter your response rounded to two decimal places.

The growth rate of: __%

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