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Acme Motors's annual dividends are indicated below. Find the required rate of retum for this stock, assuming the future dividend growth rate will remain the same and the company has an infinite horizon. Assume the January 1, 2011 price of the stock was $33.00. What was the required retum for Acme Motors's stock? 2007 $1.29 200 $1.35 2009 $1.47 2010 $1.60 Year 2001 2012 2003 2014 2005 2006 Dividend $0.85 $0.93 $0.98 $1.07 $1.12 $118 PRED What was the estimated annual required return for Acme Motors's stock? % (Round to two decimal places)