Snapchat has recently gone public and is now trading on the stock exchange (ticker SNAP). Its price is $15 per share. It has never paid any dividends, but you expect that they will start to pay a dividend of $0.30 per share next year. Further, you expect the dividends to grow at a constant rate in perpetuity. If the expected return on SNAP is 25%, what is the expected growth rate of the dividends? 0.67% 25% 23% 50%