Answer: Correct answer is 12.69%
Price=Dividend/(Required return-growth)
48=4.65/(Required return-3%)
Required
return-3%=4.65/48
Required return=4.65/48 +3%
=0.096875 +0.03
=0.126875 or 12.69% (Rounded to two decimal places)
The next dividend payment by Hot Wings, Inc., will be $4.65 per share. The dividends are...
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