MammothMart's common shares are currently trading for$59.85 and the company paid its annual dividend of$0.60 per share. If your required rate of return is12%, what is the implied growth rate individends? (Assuming that dividends are expected to grow at a constant rate inperpetuity.)

A.

11.00%

B.

10.89%

C.

8.46%

D.

11.46%

E.

1.00%