answer is not 17.44. help

Save Homework: Chapter 8 Homework Score: 0 of 1 pt + 8 of 9 (7 complete) HW Score: 66.67%, 6 of 9 pts X Problem 8-32 (similar to) Question Help 0 (Common stockholder expected return) If you purchased 200 shares of common stock that pays an end-of-year dividend of $3.00, what is your expected rate of return if you purchased the stock for $31.79 per share? Assume the stock is expected to have a constant growth rate of 8 percent. Your expected rate of return is 17.44 %. (Round to two decimal places.)