Required:

Jand, Incorporated, currently pays a dividend of $$1\mathrm{.}38,$ which is expected to grow indefinitely at $5\%.$ If the current value of Jand's shares based on the constant$-$growth dividend discount model is $$35\mathrm{.}41,$ what is the required rate of return? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

$0197800$

Required rate of retum

$\%$