Direct materials $ $84,000$ Direct labor $ $42,500$ Variable manufacturing overhead $ $21,000$ Fixed manufacturing overhead $32,500$ Total manufacturing overhead $ $53,500$ Variable selling expense $ $15,000$ Fixed selling expense $24,000$ Total selling expense $ $39,000$ Variable administrative expense $ $5,500$ Fixed administrative expense $28,000$ Total administrative expense $ $33,500$Arts and Crafts, Incorporated will pay a dividend of $$6$ per share in $1$ year. It sells at $$60$ a share, and firms in the same industry provide

an expected rate of return of $15\%.$ What must be the expected growth rate of the company's dividends?

Note: Do not round intermediate calculations. Enter your answer as a whole percent.

Expected growth rate

$\%$