Boeing Company (NYSE: BA) has a current stock price of $51.25. It also has a P/B of 3.7 and book value per share of $14.12. Assume that the single-stage growth model is appropriate for valuing the company. Boeings beta is 0.80, the risk-free rate is 3.00 percent and the equity risk premium is 5.50 percent. If the ROE is 20 percent, what is the growth rate (to the nearest 0.1 percent) required for Boeing to have its current P/B? (please show workings).