PRD Ltd shows good financial performance over the years. As a result, the market price of its share becomes 4 times the book value of $2.56 per share. An analyst estimates that the firm's book value will grow by 6.97 percent per year forever. The cost of equity of the company is 16.79 percent. Find the market's expectation of the long-term ROE of PRD. (Write your answer in \%, rounded to two decimal places. For example, if your answer is 1.234%, write only '1.23.)