You are examining a company valued by the market at 38.35 per share. The company is expected to pay an annual 2.55 dividend next year per share, estimated to grow at a rate of 0.0485 per year indefinitely. What is the required rate of return on this stock using the constant growth dividend discount model? \begin{tabular}{l} \hline 0.1052 \\ \hline 0.1150 \\ \hline 0.1208 \\ \hline 0.1095 \\ \hline 0.1280 \end{tabular}