A company's dividend payments to its shareholders over the last (3) three years were: Year 1 $2.75 Year 2 = $3.07 Year 3 = $3.49 Based on the dividend payments, what is the company's average annual dividend growth rate? (You may round your final answer to the nearest hundredth.) 0.13 or 13% 0.26 or 26% 0.14 or 14% 0.12 or 12%

A company's dividend payments to its shareholders over the last (3) three years were: Year 1=$2.75 Year 2=$3.07 Year 3=$3.49 Based on the dividend payments, what is the company's average annual dividend growth rate? (You may round your final answer to the nearest hundredth.) 0.13 or 13% 0.26 or 26% 0.14 or 14% 0.12 or 12%