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(Solved): Suppose A Company Is Expected To Pay A Dividend Of $8.09 Next Year. The Dividend Is Expected To Grow...

Suppose a company is expected to pay a dividend of $8.09 next year. The dividend is expected to grow at 6.68% each year. If the stock is currently selling for $38.22, what is the dividend yield?

Enter your answer as a percentage rounded off to two decimal points. Do not enter % in the answer box.

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