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3. Sonic is currently selling for $24.38 and pays annual dividends of $0.56 per share. Suppose investors expect dividends to grow at a constant rate

3. Sonic is currently selling for $24.38 and pays annual dividends of $0.56 per share. Suppose investors expect dividends to grow at a constant rate of 6% per year, forever. Assuming markets are efficient, what is the required return on SONC? A. 8.43% B. 7.95% C. 9.41% D. 7.03% E. 6.80%

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