Mackery, Inc., has an outstanding issue of preferred stock that pays a $7.2 dividend every year. If this issue currently sells for $104.

Mackery, Inc., has an outstanding issue of preferred stock that pays a $7.2 dividend every year. If this issue currently sells for $104.86 per share, what return to market investors require on it currently? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)