Cache Creek Manufacturing Company is expected to pay a dividend of $$3\mathrm{.}36$ for stock in the upcoming year. Dividends are expected to grow at $8\%$ per year. The risk$-$free rate of return is $4\%,$ and the expected return on the market portfolio is $14\%.$ Investors use the CAPM to compute the market capitalization rate and use the constant$-$growth DDM to determine the value of the stock. The stock's current price is $$56.$ Using the constant$-$growth DDM$,$ the market capitalization rate is $\_\_\_$

$9\%$

$14\%$

$12\%$

$18\%$