Storico Co$.$ just paid a dividend of $$1\mathrm{.}55$ per share. The company will increase its dividend by $24$ percent next year and will then reduce its dividend growth rate by $6$ percentage points per year until it reaches the industry average of $6$ percent dividend growth, after which the company will keep a constant growth rate forever. If the stock price is $$43\mathrm{.}07,$ what required return must investors be demanding on the company's stock? $($Hint: Set up the valuation formula with all the relevant cash flows, and use trial and error to find the unknown rate of return.$)($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$