Shares of the Choco Co. common stock are currently selling for $25.48. The last dividend paid was $1.60 per share. The market rate of return is 10%. The rate at which the dividend is growing is closest to what value?

Select one:

a. 3.50%

b. 6.91%

c. 4.60%

d. 6.05%

e. 5.00%