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11.Continental Cars, Inc. currently pays no dividends, but the firm will begin paying dividends in 3 years. The first dividend will be $3 and dividends

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11.Continental Cars, Inc. currently pays no dividends, but the firm will begin paying dividends in 3 years. The first dividend will be $3 and dividends are expected to grow at 4% per year thereafter. Given a current market price of $50.50, what is the required return on the stock? (Show your work as well as the inputs put into the financial calculator) a. 7% b. 8% c. 990 d. 10% e. 12%

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