Please show work! I Have tried several methods, answer has not been correct yet. Will Rate!

Kellogg pays $3.00 in annual per share dividends to its common stockholders, and its recent stock price was $80.50. Assume that Kelloggs cost of equity capital is 5.0%. Estimate Kelloggs expected growth rate based on its recent stock price using the dividend discount model with increasing perpetuity. Do not round until your final answer. Round Final answer to the fourth decimal place.