An issue of common stock is expected to pay a dividend of $$3$ at the end of the year. Its growth rate is equal to $3\%,$ and the current share price is $$40.$ What is the required rate of retum on the stock?

Multiple Choice

Between $7\%$ and $10\%$

Between $10\%$ and $12\%$

Between $12\%$ and $14\%$

Between $14\%$ and $17\%$