Suppose you are told that the most recent dividend paid by a firm is $100 and that dividends will have a constant growth rate with the nextperiod dividend being expected to be equal to $110. Using the Gordon growth model, what is the required return on this stock if the price today is equal to $1600 ? Enter your answer as a percentage, rounded to the nearest decimal (no \%). For example if you get 0.12345, you would enter 12.3