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#16 The market price of a stock is $26.50 and it is expected to pay a $2.77 dividend next year. The dividend is expected to

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#16 The market price of a stock is $26.50 and it is expected to pay a $2.77 dividend next year. The dividend is expected to grow at 2.63% forever. What is the required rate of return for the stock? Submit Answer format: Percentage Round to: 0 decimal places (Example: 9%, % sign required. Will accept decimal format rounded to 2 decimal places (ex: 0.09))

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