4. IBM has an ROE-9% and a beta of 1.50. It plans to maintain indefinitely its traditional plowback ratio. This year's earnings were $3 per share. The annual dividend was just paid. The consensus estimate of the coming year's market return is 10%, and T-bill currently offers a 4% return. The leading Po/E1 is 3.33, and the stock is sold at $10.60. What is its traditional plowback ratio? (10%)