consider the following information wnich relates to a given company: Item 2019 Value $6.95 Earnings Per Share Price Per Share (Common Stock) Book Value (Common Stock Equity) Total Common Stock Outstanding Dividend Per Share $35.75 $62.18 Million Million 2.4 $5.2 Analysts expect that the company could maintain a constant annual growth rate in dividends per share of 6.75% in the future, or possibly 8.01% for the next 2 years and 6.55% 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 8.49% to 4.4%. Currently, the risk-free rate is 3.2%. Required: Determine the new required return for the firm's stock. % TROUND YOUR ANSWER TO 2 DECIMAL PLACES. FOR EXAMPLE: 17.23)