Consider the following information which relates to a given company: Item 2019 Value $6.84 $36.65 Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share $64 Million 2.8 Million $4.08 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6% in the future, or possibly 8% for the next 2 years and 7% thereafter. In addition, it is expected that the risk of the firm, as measured by the risk premium on its stock, to increase immediately from 8.7% to 12%. Currently, the risk-free rate is 5%. Required: (c) Determine the current required return for the firm's stock. INPUT YOUR ANSWER AS A PERCENT ROUNDED TO 2 DECIMAL PLACES - FOR EXAMPLE: 28.41%