Greshak Corp S Common Stock Currently Trades For 50 00 And Is Projected To Pay A

Greshak Corp.’s common stock currently trades for $50.00 and is projected to pay a dividend of $4.00 per share next year.  Assuming that Greshak’s average historical return on equity is 12.0%, the risk free rate is 2.0% and the constant growth rate for the company is projected to be 3.0%, what is the market’s required rate of return on the company’s common stock (rounded)?