11%={0.6×(1+g)/[12×(1—6%)]}+g0.11-g=0.6×(1+g)/[12×(1—6%)]0.11-g=(1+g)/20×0.940.11-g=1+g/18.818.8(0.11-g)=1+g2.068-18.8g=1+g19.8g=1.068g=1.068/19.8g=0.05399393g=5.39%