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Holt Fasner is considering purchasing the stock of United Mining Companies, which he plans to hold indefinitely. United Mining just paid an annual dividend of

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Holt Fasner is considering purchasing the stock of United Mining Companies, which he plans to hold indefinitely. United Mining just paid an annual dividend of $2.00 and the price of the stock is $45 per share. The earnings and dividends of the company are expected to grow forever at a rate of 6 percent per year. What annual rate of return does Holt expect on his investment? O 6.00% 10.44% 10.58% 10.71% 11.32%

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