The following information is given for one share:

$-$ Earnings per share in one year $($EPS$1)$: CHF $30\mathrm{.}00$

$-$ Payout ratio $($payout ratio$)$: $45\mathrm{.}00\%$

$-$ Theoretical share price: CHF $188\mathrm{.}88$

$-$ Cost of equity ratio kEK: $13\mathrm{.}50\%$

What is the return on equity $($ROE$)$ if the theoretical share price was calculated using the dividend growth model $($in per cent, rounded to two decimal places$)?$

rounded to two decimal places$)?$

a$)12\mathrm{.}38\%$

b$)11\mathrm{.}55\%$

c$)10\mathrm{.}98\%$

d$)10\mathrm{.}31\%$

e$)$ The figures are not sufficient to determine the return on equity.