A company is expected to pay an $7.1 per-share dividend at the end of the year (D₁). The stock sells for $57 per share and shareholders' required rate of return is 15%. The dividend is expected to grow at a constant rate forever. What is the growth rate for this stock?

Select one:

a. 0.03%

b. 0.27%

c. 0.02%

d. 0.12%

e. None of the answers are correct