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The independent variable is the one which is:
Required Return
The minimum return an investor expects to achieve by investing in a particular asset, considering its risk.
Annual Dividend
The yearly sum of money paid out to shareholders, typically derived from a company's profits.
Rate of Return
The earnings or losses realized from an investment for a certain period, presented as a proportion of the investment's original expenditure.
First Dividends
The initial distribution of earnings declared by a company to its shareholders.
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