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Common stock value$--$Constant growth McCracken Roofing, Inc., common stock paid a dividend of $$1\mathrm{.}49$ per share last year. The company expects eamings and dividends lo grow at a rete of $9\%$ per year for the foreseeable future.

a$.$ What required rate of retum for this stock would result in a price per share of $$26?$

b$.$ If McCracken expects Joth earnings and dividends to grow at an annual rate of $11\%,$ what required rate of retum would result in a price per share of $$26?$