Problem $8-11$ Expected Return $($LG$8-5)$

Ecolap incorporated $($ECL$)$ recently paid a $$0\mathrm{.}44$ dividend. The dividend is expected to grow at an $11\mathrm{.}50$ percent rate. The current stock $,$ price is $$48\mathrm{.}52.$

What is the return shareholders are expecting?

Note: Do not round intermediate calculations. Aound your answer to $2$ decimal places.

Shareholsens return