The common stock of cranberry inc is selling for 2675 on, Financial Management

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The common stock of cranberry inc is selling for 2675 on

The common stock of Cranberry Inc. is selling for $26.75 on the open market. Next year's dividend is expected to be $3.68, and the growth rate of this company is estimated to be 5.5%. If Richard Dean, an average investor, is considering purchasing this stock at the market price, what is his expected rate of return?

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