The next dividend payment by Im$,$ Incorporated, will be $$1\mathrm{.}96$ per share. The dividends

are anticipated to maintain a growth rate of $4$ percent forever. The stock currently sells

for $$39$ per share. What is the required return? $($Do not round intermediate calculations

and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

$22$

The next dividend payment by im$,$ Incorporated, will be $$1\mathrm{.}96$ per share. The dividends

are anticipated to maintain a growth rate of $4$ percent forever. The stock currently sells

for $$39$ per share. What is the required return? $($Do not round Intermedlate calculations

and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,3216.)$