Storico Co. just paid a dividend of $2.05 per share. The company will increase

Storico Co. just paid a dividend of $2.05 per share. The company will increase its dividend by 24 percent next year and will then reduce its dividend growth
rate by 6 percentage points per year until it reaches the industry average of 6 percent dividend growth after which the company will keep a constant growth
rate forever. If the stock price is $41.00 what required return must investors be demanding on Storico stock? (Hint: Set up the valuation formula with all the
relevant cash flows and use trial and error to find the unknown rate of return.) (Do not round intermediate calculations and round your
final answer to 1 decimal place. (e.g. 32.16))