Assume that the average firm in C&J Corporation's industry is expected to grow at a constant rate of 6% and that its dividend yield is 8%. C&J is about as risky as the average firm in the industry and just paid a dividend (D0) of $2.75. Analysts expect that the growth rate of dividends will be 50% during the first year (g0,1 = 50%) and 30% during the second year (g1,2 = 30%). After Year 2, dividend growth will be constant at 6%. What is the required rate of return on C&J's stock? What is the estimated intrinsic price per share? Do not round intermediate calculations. Round the monetary value to the nearest cent and percentage value to the nearest whole number.