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For Linda Golden Manufacturing Company is expected to pay

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For Linda:
Golden Manufacturing Company is expected to pay a divident of $8 per share of common stock in one year. The dollar amount of the dividends is expected to grow at a constant 3% per year in future years. The required rate of return from shares of similar common stock in the present environment is 14%. Assuming the cash dividend amount and the growth rate are accurate, what is the annual rate of return on your investment in Golden common stock if you purchassed shares at the stock's actual listed price of $65 per share?
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Edited by Linda on 8/8/2010 at 9:07 PM EST
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