Mayfield, Inc. currently sells for $$32$ per share. The next dividend payment will be $$2\mathrm{.}25$ per share and dividends are anticipated to maintain a growth

rate of $3\mathrm{.}5$ percent forever. What is the required return? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$

decimal places, e$.$g$.,1\mathrm{.}23.$ Do not input a percent sign with your answer.$)$

Numeric Response