A common stock is trading at $15 per share. Its dividends are paid on an annual basis. The most recent dividend per share (just paid yesterday) 92.6 cents per share. If the stock's expected future growth of dividends (indefinitely) is 8%, what is the required rate of return on the stock? (Don't include the % sign in your answer. If your answer is 4.2%, type in "4.2")
