Tata Corp. needs to purchase new plastic moulding machines to meet the demand for its product. The cost of the equipment is $8,927,000. It is estimated that the firm will increase after tax cash flow (ATCF) by $1,894,864 annually for the next 3 years. The firm is financed with 40% debt and 60% equity, both based on current market values, though the firm has announced that it wants to quickly change its debt to equity ratio to 1.5. The firm's beta is 1.71, the risk free rate is 1.88% and the expected market return is 7.65%. Tata Corp.'s semi-annual bonds have 8.10% coupons, 25 years to maturity, and a quoted price of 108.410. Assume the firm's tax rate is 34%. The firm's last 5 dividends (the last in the list is D0) are 1.23, 1.56, 1.67, 2.17, and 2.72. Its current market price is $162.71.

Question :What is Tata Corp.'s historic rate of dividend growth based on the last 5 dividends?