Consider the following information which relates to a given company: Item Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share 2019 Value $6.79 $35.77 $60.84 2 $4.06 Million Million Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.2% in the future, or possibly 8.8% for the next 2 years and 6.2% 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 8.19% to 3.3%. Currently, the risk-free rate is 6.5%. Required: Determine the new required return for the firm's stock. % (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23) Consider the following information which relates to a given company: Item Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share 2019 Value $6.79 $35.77 $60.84 2 $4.06 Million Million Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.2% in the future, or possibly 8.8% for the next 2 years and 6.2% 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 8.19% to 3.3%. Currently, the risk-free rate is 6.5%. Required: Determine the new required return for the firm's stock. % (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)