Acme Motors Inc.$\text{'}$s annual dividends are shown in the following table: $.$ Find the required rate of return for this stock, assuming the future dividend growth rate will remain the same and the company has an infinite horizon. Assume the January $1,2023$ price of the stock was $$32\mathrm{.}00.$ What was the required return for Acme Motors Inc.$\text{'}$s stock?

What was the estimated annual required return for Acme Motors Inc.$\text{'}$s stock?

$\%($Round to two decimal places.$)$

Data table

$($Click on the following icon in order to copy its contents into a spreadsheet.$)$

$\backslash$table$[[$Year$,2013,2014,2015,2016,2017,2018,2019,2020,2021,2022],[$Dividend$,$$$0\mathrm{.}85,$$$0\mathrm{.}94,$$$0\mathrm{.}99,$$$1\mathrm{.}09,$$$1\mathrm{.}14,$$$1\mathrm{.}20,$$$1\mathrm{.}32,$$$1\mathrm{.}39,$$$1\mathrm{.}53,$$$1\mathrm{.}68$