(Stocks) A stock with the required rate of return of 12.08% is expected to pay a $1 dividend over the next year. The dividends are expected to grow at a constant rate forever. The intrinsic value of the stock is $23.87 per share. What is the constant growth rate (in %, to the nearest 0.01%)? E.g., if your answer is 4.236%, record it as 4.24.