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After update Android Studio, most probably you will be recommended to update the Android Gradle Plugin:
Then, most probably again, "Error:Gradle version 2.10 is required. Current version is 2.4. If using the gradle wrapper, try editing the distributionUrl in ..." will be reported!
Just click the link of "Gradle settings" in Message View, and choice the correct Gradle home.
Alternatively, you can access Gradle home by:
Click File > Settings >
select tabs of Build, Execution, Deployment > Build Tools > Gradle
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