Homework: Chapter 7 Homework Question 8, P7-26 (similar to) HW Score: 0%, 0 of 8 points Points: 0 of 1 Save Assume ExxonMobil's price dropped to $40 overnight. Given the dividend growth rate of ExxonMobil of 7.00% and the last annual dividend of $1.55, what is the implied required rate of return necessary to justify the new lower market price of $40? What is the implied required rate of return necessary to justify the new lower market price of $40? 0% (Round to two decimal places.)