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(Stocks) A stock with the required rate of return of 12.26% is expected to pay a $0.85 dividend over the next year. The dividends are

(Stocks) A stock with the required rate of return of 12.26% is expected to pay a $0.85 dividend over the next year. The dividends are expected to grow at a constant rate forever. The intrinsic value of the stock is $23.88 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.

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