Crabby Hippo, Inc., has an issue of preferred stock outstanding that pays a $5.49 dividend every year, in perpetuity. If this issue currently sells for $65.93 per share, what is the required return? (Do not round intermediate calculations and round your answer to percent with two decimals, i.e. 32.18)

The stock price of Baskett Co. is $71.06. Investors require a return of 12.2 percent on similar stocks. If the company plans to pay a dividend of $5.48 next year, what growth rate is expected for the company's stock price? (Do not round intermediate calculations and round your answer to two decimal points, i.e. 32.16)