Bank of America has a preferred stock issue outstanding that has a par value per share of $$25.$

The stated annual dividend on the preferred stock is $7\%.$ The current price per share of the preferred stock is $$27\mathrm{.}47.$

Given the current price, what is the implied return that investors are requiring for their investment in this preferred stock?

Enter your answer in decimal form out to four decimals. For example, you would enter r$=10\mathrm{.}15\%$ as $0\mathrm{.}1015.$