You are examining a company valued by the market at 50.45 per share. The company pays a current annual dividend of 3.04 per share, and this is estimated to grow at a rate of 0.0705 per year indefinitely. What is the required rate of return on this stock using the constant growth dividend discount model? \begin{tabular}{l} 0.1350 \\ 0.1550 \\ 0.1493 \\ \hline 0.1620 \\ \hline 0.1409 \\ \hline \end{tabular}