The current dividend yield on ABC's common stock is 1.51 percent. The company just paid an annual dividend of $1.56 and announced plans to pay $1.65 next year. The dividend growth rate is expected to remain constant at the current level. What is the required rate of return on this stock?

a. 4.84 percent

b.6.41 percent

c.6.14 percent

d.7.28 percent

e.9.92 percent