The stock of ABC Bhd. currently sells for $90 per share. The firm just paid a dividend of $5.09 and the dividend is expected to grow at a constant rate in perpetuity. If the required rate of return is 12%, what is the expected dividend growth rate?

Select one:

a. 3.91%

b. 5.50%

c. 6.00%

d. 10.89%