Pineapple Chip Co. is currently selling for $50.00 per share. The company expects to pay a dividend of $1.00 per share in a year (this is the total for the one year period). For the remainder of the companys life, dividends are expected to grow at a constant rate, and investors are expected to require a 20% return to invest in Pineapple Chip Co. stock. What is the dividend growth rate using the constant growth model?

Group of answer choices

12.0%

18.4%

13.0%

18.0%