A firm's earnings per share is $7.8. It just paid a dividend of $2.50, and expects its next dividend to be $3.04. Its shares are currently priced at $35.15. If the firm's ROE is 10.12%, what is the required rate of return on the stock? Do not round any intermediate calculations. Report it as a whole number and round your answer to two decimal points. For example, if your answer is 17.857321%, you would type in 17.86 as your answer.