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Luther Industries has a dividend yield of 4.6% and and a cost of equity capital of 11%. Luther Industries' dividends are expected to grow at

Luther Industries has a dividend yield of 4.6% and and a cost of equity capital of 11%. Luther Industries' dividends are expected to grow at a constant rate indefinitely. The growth rate of Luther's dividends are closest to:

A. 15.6%

B. 12.8%

C. 6.4%

D. 5.8%

Please don't use excel and please show step by step.

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