The Marcus Company had net earnings of $$127,000$ this past year of which $$46,200$ was paid out in dividends. The company's equity was $$1,587,500.$ Lory has $200,000$ shares outstanding with a current market price of $$11\mathrm{.}63$ per share. Both the number of shares and the dividend payout ratio are constant. What is the required rate of return if the growth rate is $5\mathrm{.}6$ percent?