You've collected the following information from your favorite financial website. 52-Week Price Net Chg Hi 36.99 32.90 194.90 41.86 29.82 Lo 13.09 42.81 151.71 23.44 22.82 Stock (Div) Arch Coal 0.44 Laclede Grp 1.66 IBM 3.00 JC Penney 0.80 Tootsie Roll 0.32 Div Yld % 3.0 4.0 1.6 1.9 1.3 PE Ratio 20.0 14.2 14.7 45.8 33.9 Close Price 14.53 41.60 192.37 41.77 ?? 0.25 -0.31 1.91 0.35 -0.19 Requirement 1: Using the dividend yield, calculate the closing price for Tootsie Roll on this day. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Stock price $ Requirement 2: Assume the actual closing price for Tootsie Roll was $24.48. Your research projects a 5.5 percent dividend growth rate for Tootsie Roll. What is the required return for the stock using the dividend discount model and the actual stock price? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Required return