Repo Corp. has paid out the following quarterly dividend in the past 10 years:

Year	Quarterly dividend	Annual dividend
2015	0.73	2.92
2014	0.69	2.76
2013	0.63	2.52
2012	0.57	2.28
2011	0.47	1.88
2010	0.44	1.76
2009	0.42	1.68
2008	0.40	1.60
2007	0.35	1.40
2006	0.32	1.28
2005	0.29	1.16

The annual dividend in 2016 is expected to be $3.08 and current stock price is $80. The average return on equity for Repo in the past three years is 20% and the payout ratio is 60%. Investors require a 12% return (based on CAPM) on its stock. Use three methods (historical growth rate, Gordon model and earnings retention model) to estimate the growth rate for Repo based on the above information given. In the historical growth rate method, use both the compound growth and regression. Explain your final estimate