On 1/1/2019, one share of SPY (an exchange-traded fund or ETF invested on Standard & Poor 500's stock) was traded at $262 in the market. One year later, on 1/1/2020, one share of SPY, adjusted for dividends (the annual dividends added to its price), was being traded at $324. Determine the annual return rate on a SPY portfolio in 2019. (Type the answer in decimals. Approximate your answer to the nearest hundredth or percentage point.)