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High Yield, Inc. is well know for paying very large annual dividends to its shareholders. Investors expect the firm to pay an annual dividend per

High Yield, Inc. is well know for paying very large annual dividends to its shareholders. Investors expect the firm to pay an annual dividend per share of $102.5 approximately one year from today. Investors expect the firm's annual dividends to grow at a constant rate forever. The firm's stock has a beta of 2, the risk-free rate is 5%, and market risk premium is 9%. If the current stock price is $500 per share, what is the expected growth rate of High Yield's dividends? ENTER YOUR ANSWER IN DECIMAL FORM (e.g., 5.1% would be entered as 0.051) AND ROUND YOUR ANSWER TO THREE DECIMAL PLACES (e.g., 0.051)

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