A stock is expected to pay a dividend next year of $1.6. The dividend amount is expected to grow at an annual rate of 5.5% indefinitely. Assuming a required return on the stock of 9.4% in the future, the dividend yield on the stock is %. Do not round any intermediate work, but round your final answer to 2 decimal places (ex: 12.34567% should be entered as 12.35). Margin of error for correct responses: +/- .05