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Over the past 6 years, a local firm has paid annual dividends of $1.96,$2.23,$2.45,$2.75,$3.07, and $3.36. What is the arithmetic average dividend growth rate? (Do

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Over the past 6 years, a local firm has paid annual dividends of $1.96,$2.23,$2.45,$2.75,$3.07, and $3.36. What is the arithmetic average dividend growth rate? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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