Problem 8-5 Stock Valuation [LO1] Grateful Eight Co. is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the company has a dividend yield of 6.8 percent, what is...

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Extracted text: Problem 8-5 Stock Valuation [LO1] Grateful Eight Co. is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the company has a dividend yield of 6.8 percent, what is the required return on the company's stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Required return %