TomTom Inc. just paid a dividend of $3.00 (that is, D0 = 3.00). The current market price of the stock is $50 per share. Investors require a return of 15 percent on TomTom's stock. What is the implied growth rate of TomTom Inc., assuming that it grows at a constant rate?

a. 9.0%

b. 10.0%

c. 8.5%

d. 7.5%

e. not enough information to answer this question.

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