Savickas Petroleums stock has a required return of 12%, and the stock sells for $43 per share. The firm just paid a dividend of $1.00, and the dividend is expected to grow by 30% per year for the next 4 years, so D₄ = $1.00(1.30)⁴ = $2.8561. After t = 4, the dividend is expected to grow at a constant rate of X% per year forever. What is the stocks expected constant growth rate after t = 4, i.e., what is X?

	a.	5.15%
	b.	6.78%
	c.	6.37%
	d.	5.49%
	e.	7.25%