HLI, Inc. is expected to pay a dividend of $2.50 per share at the end of the year, and cost of equity is 11%. If the current value of HLI 's shares based on the constant-growth dividend discount model is $40, what is constant growth rate if the dividend is expected to grow indefinitely? (rounded to 2 decimal points) O a. 6.52% O b. 4.75% . 5.64% O d. None of the other choices