. AEC Company issues common stock that is expected to pay a dividend over the next year of $2 at a stock price of $20 per share today. If its WACC is 12% and the company is financed by 30% debt and 70% equity, calculate the expected growth rate of dividend (=g), given the cost of debt is 5% and tax rate is 0%?

A) 5.0%

B) 7.0%

C) 9.0%

D) 12.0%

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