Question 1 1 pts The risk-free rate is 5% and the expected return on a non-dividend-paying stock is 12%. A derivative can be valued by (choose one) Hlnt: this is a question about the risk-neutral valuation approach a) Assuming that the expected growth rate for the stock price is 12% and discounting the expected payoff at 12% b) Assuming that the expected growth rate for the stock price is 5% and discounting the expected payoff at 12% c) Assuming that the expected growth rate for the stock price is 5% and discounting the expected payoff at 5% d) Assuming that the expected growth rate for the stock price is 12% and discounting the expected payoff at 5%