A firm pays a $6.80 dividend at the end of year one (D₁), has a stock price of $132, and a constant growth rate (g) of 4 percent.

A firm pays a $6.80 dividend at the end of year one (D1), has a stock price of $132, and a constant growth rate (g) of 4 percent. Compute the required rate of return (Ke). (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Rate of return