Excellence Inc.'s annual dividends are indicated below. Find the required rate of return for this stock, assuming the future dividend growth rate will remain the same and the company has an infinite horizon. Assume the January 1, 2011 price of the stock was $32.00. What was the required return for Excellence Inc.'s stock? Q Year 2001 2003 2004 2005 2002 2006 Dividend $0.90 $1.01 $1.06 $1.19 $1.25 $1.31 What was the estimated annual required return for Excellence Inc.'s stock? % (Round to two decimal places.) 2007 $1.47 2008 $1.54 2009 2010 $1.72 $1.93