The Company expects to announce their annual dividend of $ 1.31 next year and promises to increase its dividends at 7.75 % perpetually. Even though you believe the required return on the stock is 14.00 % due to market conditions, you must purchase the stock for $ 6 above the intrinsic value today. At this higher purchase price, what is your expected rate of return?

		12.61%
		11.62%
		12.89%
		8.15%
		13.15%