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24. The common stock of Cranberry Inc. is selling for $53.18 on the open market. Next year's dividend is expected to be $4.28, and the

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24. The common stock of Cranberry Inc. is selling for $53.18 on the open market. Next year's dividend is expected to be $4.28, and the growth rate of this company is estimated to be 9% for the foreseeable future. If you are considering purchasing this stock at the market price, what is your expected rate of return? Submit your answer as a percentage and round to two decimal places (Ex.0.00%)

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