Goode Inc.'s stock has a required rate of return of 11.50%, and it sells for $29.00 per share. Goode's dividend is expected to grow at a constant rate of 7.00%. What was the last dividend, D0?

a.

$0.95

b.

$1.38

c.

$1.37

d.

$1.22

e.

$1.06