Implied dividend growth $-$ I.

Tamara Ltd$.\text{'}$s stock is currently trading at $$70$ per share. The company recently paid a dividend of $$1\mathrm{.}20,$ which is

expected to grow at a constant rate forever. Given a required rate of return of $11\mathrm{.}0\%$ and that the stock is fairly

valued, the implied growth rate is closest to

$\%$

Round your answer to two decimals