Consider the following information which relates to a given company: ion Item Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share 2019 Value $6.5 $41.25 $57 Million Million $4.1 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 7% in the future, or possibly 9% 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 8.3% to 11%. Currently, the risk-free rate is 6% 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: 28.419 DECIMAL PLACE