ACME Co$.$ is expected to maintain a constant $3\mathrm{.}4\%$ growth rate in the dividends forever. If the company has a dividend yield of $5\mathrm{.}3\%,$ what is the required return on the company's stock?

$9\mathrm{.}70\%$

$11\mathrm{.}70\%$

$10\mathrm{.}70\%$

$7\mathrm{.}70\%$

$8\mathrm{.}70\%$