Assume ExxonMobil's price dropped to $37 overnight. Given the dividend growth rate of ExxonMobil of 4.00% and the last annual dividend of $1.80, what is the implied required rate of return necessary to justify the new lower market price of $ 37?

What is the implied required rate of return necessary to justify the new lower market price of

$ 37?

nothing%

(Round to two decimal places.)