Currently, a firm has a benchmark PE of $11\mathrm{.}7$ and an EPS of $$3\mathrm{.}20.$ Earnings are expected to grow $3\mathrm{.}2$ percent annually. What is the implicit rate of return?

Multiple Choice

$3\mathrm{.}20\%$

$2\mathrm{.}89\%$

$4\mathrm{.}08\%$

$3\mathrm{.}67\%$

$4\mathrm{.}23\%$