Determine the implied growth rate of gldcs dividends and, Financial Management

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Determine the implied growth rate of gldcs dividends and

The common stock of General Land Development Company (GLDC) is expected to pay a dividend of $2 next year and currently sells for $29. Assume that the firm’s future dividend payments are expected to grow at a constant rate for the foreseeable future. Determine the implied growth rate of GLDC’s dividends (and earnings), assuming that the required rate of return of investors is 11 percent. Round your answer to the nearest whole number.

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Financial Management: Determine the implied growth rate of gldcs dividends and

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