Youve collected the following information from your favorite financial Web site. 52-Week Price Stock (Div) Div Yld % PE Ratio Close Price Net Chg Hi Lo 77.40 10.43 ArchCoal 0.36 2.5 6 13.90 0.24 55.81 33.42 LacledeGrp 1.54 3.7 10 40.43 0.01 130.93 69.50 IBM 2.00 2.3 10 88.97 3.07 50.24 13.95 JCPenney 0.80 5.2 6 15.43 0.26 35.00 20.74 TootsieRoll 0.32 1.5 28 ?? 0.18 According to the 2009 Value Line Investment Survey, the growth rate in dividends for JCPenney for the previous 10 years has been 11 percent. Required: If investors feel this growth rate will continue, what is the required return for JCPenney stock?