Required:

Jand, Incorporated, currently pays a dividend of $$1\mathrm{.}50,$ which is expected to grow indefinitely at $6\%.$ If the current value of Jand's shares based on the constant$-$growth dividend discount model is $$39\mathrm{.}91,$ what is the required rate of return? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Required rate of return

$\%$