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Question Help P7-26 (similar to) Assume ExxonMobil's price dropped to $33 overnight. Given the dividend growth rate of ExxonMobil of 5.00% and the last annual

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Question Help P7-26 (similar to) Assume ExxonMobil's price dropped to $33 overnight. Given the dividend growth rate of ExxonMobil of 5.00% and the last annual dividend of $1.25, what is the implied required rate of return necessary to justify the new lower market price of $33? What is the implied required rate of return necessary to justify the new lower market price of $33? % (Round to two decimal places.)

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