Gray Manufacturing is expected to pay a dividend of $1.25 per share at the end of the year (D1- $1.25). The stock sells for $27.50 per share, and its required rate of return is 11.9%. The dividend is expected to grow at some constant rate (g) forever. What is the expected growth rate? Your answer should be between 3.22 and 8.78, rounded to 2 decimal places, with no special characters