You've collected the following information from your favorite financial website.

According to analysts, the growth rate in dividends for Acevedo for the previous $10$ years has been $4$ percent. If investors feel this

growth rate will continue, what is the required return for the company's stock?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$