3. Majestic Homes' stock traditionally provides an 8% rate of return. The companyjust paid a $2 a year dividend which is expected to increase by 5% per year. If you are planning on buying 1,000 shares of this stock next year, how much should you expect to pay per share it the market rate of return for this type of security is 9% at the time of your purchase? a) 48.60 b) 55.13 c) 52.50 d) 70.0 e) 57.89