a$.$ The required rate of return for this stock, in order to result in a price per share of $$22,$ is $|\%.($Round to two

decimal places.$)$McCracken$$ Roofing, Inc., common stock paid a dividend of $$$$1\mathrm{.}38$ per share last year. The company expects earnings and dividends to grow at a rate of $7\%$ per year for the foreseeable future.$$

a$.$What required rate of return for this stock would result in a price per share of $$$$22?$

b$.$ If McCracken expects both earnings and dividends to grow at an annual rate of $12\%,$ what required rate of return would result in a price per share of $$$$22?$