Dunder Mifflin Paper Company most recently paid a dividend of $2.662 per share in 2019. Under the leadership of Mr. Michael Scott, the company has been very successful in the past four years. Over these years, it has paid a common stock dividend as shown on the attached table. The company anticipates that its future dividends will increase at an annual rate consistent with that experienced over the 2016-2019 period, and the company wishes to continue this dividend growth indefinitely. Dunder Mifflin Paper Company's stock is currently selling for $58.564 per share. If the prevailing real rate of return is 5 percent and expected inflation is 3 percent, what is the risk-premium on Dunder Mifflin Paper Company's stock? Keep at least 4 decimal points for intermediate stage calculations.

Dividend per share per year: 2016= $2, 2017= $2.20, 2018= $2.42, and 2019= $2.662