Suppose that today's date was December 31, 2015. Consider the following data on the only two firms in the stock market of Andorra: Shares outstanding (in millions) 3 7 Stock A B Price on 12/31/2015 102 95 Dividend per share during 2015 2 You calculate the dividend-to-price ratio of the stock market by dividing total dividends paid in a year by the total value of the stock market at the end of that year. You regress annual Andorran stock market returns on the previous year's Andorran dividend-to-price ratio. This results in an intercept estimate of 0.01 (t-stat = 2.41) and a slope estimate of 4.32 (t-stat = 3.59). The regression's R-squared is 0.22. What is the regression-implied expectation of the return on the Andorran stock market in 2016? A. 14.16% B. 12.57% C. 16.08% D. 8.03%