The risk$-$free rate is $4\%$; the market risk premium is $8\%.$ LDC Company$$s stock has a beta of $1\mathrm{.}5.$ The last dividend was $$4\mathrm{.}5.$ The dividend growth rate $($g$)$ is expected to be a constant of $10\%.$ The stock$$s current market price $($P$0)$ is $$75.$

If you buy the stock now, what is the expected rate of return for the first year? Assume that the stock price will reach the equilibrium level at t$=1$ if it is currently mispriced.