The current dividend yield on CJ's common stock is 1.89 percent. The company just paid an annual dividend of $1.56 and announced plans to pay $170 next year. The dividend growth rate is expected to...

The current dividend yield on CJ's common stock is 1.89 percent. The company just paid an annual dividend of $1.56 and announced plans to pay $1 70 next year. The dividend growth rate is expected to remain constant at the current level. What is the required rate of return on this stock?