LED, Inc. just paid an annual dividend of $2.50 per share. The dividends are expected to grow for the next 4 years at 6.5% per year, then grow at 3% per year forever. The required rate of return for LED stock is 12% per year. What is the dividend yield at the end of period 1? a. 8.5% b. 7.9% c. 9.3% d. 8.7%