Jumbuck Exploration has a current stock price of

$2.45

and is expected to sell for

$2.57

in one year's time, immediately after it pays a dividend of

$0.32.

Which of the following is closest to Jumbuck Exploration's equity cost of capital?

A.

10.78%

B.

17.96%

C.

22.45%

D.

8.98%