The next dividend payment by microcenter. will be $3.10 per share. The dividends will have 5% growth rate forever. If microcenter stock currently trades at $48.00 per share, what is the required rate of return? (Next div. is coming one year from today)

a. Required Return <= 5%

b. 5% < Required Return <= 7%

c. 7% < Required Return <= 9%

d. 9% < Required Return