You've recently learned that the company where you work is being sold for $440,000. The company's income statement indicates current profits of $16,000, 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?

Your response rounded to two decimal places.

Growth rate of what percent?