Two years ago, Margaret bought the stock for $27.12 a share of Battery Co. stock. When she purchased the stock, the Battery Co. just paid $1.58 in dividends and the dividend is expected to grow at a rate of x. Givin the required return of 16% on this investment. What is the growth rate (x) of the Battery Co. stock? (Note: retain at least 4 decimals in your calculation.)

Select one:

9.61%

16.00%

5.83%

0%

10.17%