You$$ve recently learned that the company where you work is being sold for $$450,000.$ The company$$s income statement indicates current profits of $$18,000,$ which have yet to be paid out as dividends. Assuming the company will remain a $$going concern$$ indefinitely and that the interest rate will remain constant at $9$ percent, at what constant rate does the owner believe that profits will grow?

Instruction: Enter your response rounded to two decimal places.

Growth rate of:

percent.