Finkle-McGraw Corp. just paid a dividend today of $2.60 per share. The dividend is expected to grow at a constant rate of 4.6% per year. If Finkle-McGraw Corp. stock is selling for $72.00 per share, what is the stockholders' expected rate of return? Submit your answer as a percentage and round to two decimal places.

(i) Describe and interpret the assumptions related to the problem.

(ii) Apply the appropriate mathematical model to solve the problem.

(iii) Calculate the correct solution to the problem.