Muller's Investigative Services has stock is trading at $70 per share. The stock is expected to have a year-end dividend of $6 per share (D₁ = $6), and it is expected to grow at some constant rate, g_L, throughout time. The stock's required rate of return is 11% (assume the market is in equilibrium with the required return equal to the expected return). What is your forecast of g_L? Do not round intermediate calculations. Round the answer to two decimal places.