(Cоntinued frоm previоus question) An аnаlyst is evаluating Firm Y using a single-stage residual income valuation model based on the following financial assumptions: Current Book Value of Equity per share: $40.00 Expected Return on Equity: 16.0% Required Return on Equity: 10.0% Expected Constant Growth Rate of Residual Income: 6.0% Suppose the current market price of Firm Y's stock is $70.00. What is the implied growth rate of residual income?