Woof Inc. just distributed $1.5 dividend. The expected dividend growth will be 4% per year for 10 years. The growth rate will then change after the initial 10 years. The current stock price is $35 the required return is 10%. What is the implied growth rate after the initial 10 years?

		6.19 percent
		1.01 percent
		6.39 percent
		13.81 percent
		8.99 percent