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Savickas Petroleum s stock has a required return of 1 2 . 0 0 % , and the stock sells for $ 3 0 .

Savickas Petroleums stock has a required return of 12.00%, and the stock sells for $30.00 per share. The firm just paid a dividend of $1.00, and the dividend is expected to grow by 30.00% per year for the next 4 years, so D4= $1.00(1.30)4= $2.8561. After t =4, the dividend is expected to grow at a constant rate of X% per year forever. What is the stocks expected constant growth rate after t =4, i.e., what is X?Do not round your intermediate calculations.

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