Range bow damage - dex or str?

[Anxarcule]

Thinking about starting a ranger down the line and am trying to understand if dexterity is worth investing in for ranged combat. As I understand dex affects bow damage and hit rate (str has 0 effect on ranged weapons), though on the Game Mechanics page it states that archery has no damage bonuses. is there a formula that demonstrates stat level with added damage (e.g. for every 5 dex above 100 +1 damage)?

There is an interesting thread from 2016 that states str is used instead of dex - was this fixed at some point between now and then? the wiki on patch notes seems to refer to original EQ timeline, not p1999 patches