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12. The current dividend yield on Clayton's Metals common stock is 2.5 percent. The company just paid a $1.48 annual dividend and announced plans to

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12. The current dividend yield on Clayton's Metals common stock is 2.5 percent. The company just paid a $1.48 annual dividend and announced plans to pay $158 next year. The th rate is expected to remain constant at the current level. What is the required rate of return on this stock? FORMAT TO FOUR DECIMAL PLACES A. 6.55 % B. 6.82 % C. 7.08 % D. 9.26% E. 10.75 %

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