. Prior guidance was wrong - resubmitting

(Common stock valuation) Abercrombie& Fitch's common stock pays a dividend of $0.70. It is currently selling for $34.14. If thefirm's investors require a return of 10 percent on their investment from buying Abercrombie& Fitchstock, what growth rate would Abercrombie& Fitch have to provide theinvestors?

The growth rate Abercrombie& Fitch would have to provide the investors is __________%. (Round to two decimalplaces.)