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IBIS Corporation has had dividends grow from $ 2 . 1 0 per share to $ 6 . 8 0 per share over the last

IBIS Corporation has had dividends grow from $2.10 per share to $6.80 per share over the last 10 years (the
$6.80 per share dividend was paid yesterday; that is, D0= $6.80). This compounded annual growth rate in
dividends is expected to continue into the future forever. If the current market price of IBISs stock is $56.00
per share, what rate of return do investors expect to receive from buying IBIS stock? (Record your answer
rounded to 1 decimal place; for example, record 18.29654% as 18.3).

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