Consider the following information which relates to a given company: 2019 Value $6.19 Item Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share $37.17 $62.69 Million Million 2.5 $5.08 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.85% in the future, or possibly 8.3% for the next 2 years and 6.13% 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 8.39% to 4.1%. Currently, the risk-free rate is 9.5%. Required: Determine the current required return for the firm's stock. * (ROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)