Symmetry Designs just paid a dividend of $2.4471 per share. The dividends are anticipated to maintain a 6.25 percent growth rate, forever. Next year dividend will reach $2.6. If the stock currently sells for $48.80 per share, what is the cost of common equity or required return on the stock?

a. 11.26%

b. 11.58%

c. 12.12%

d. 12.48%

e. 12.97%