Question: This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial

This set of problems is designed to be calculated using theExcel or financial calculator.You can also use algebraic formulas. Do not use financial tables to calculate these problems.

A firm's dividends have grown over the last several years. 8 years ago the firm paid a dividend of $2. Yesterday it paid a dividend of $6. What was the average annual growth rate of dividends for this firm?

Round the answer to two decimal places in percentage form.

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