Use the Constant Dividend Growth Model to determine the expected annual growth rate of the dividend for ELO stock. The firm is expected to pay an annual divided of $17.66 per share in one year. ELO shares are currently trading for $401.36 on the NYSE, and the expected annual rate of return for ELO shares is 10.47%. Answer as a % to 2 decimal places (e.g., 12.34% as 12.34).