South Park is expected to pay a $2.50 annual dividend on its common stock next year, and increase dividend payment at a rate of 4.5 percent per year thereafter. The stock is currently selling for $30 a share. What is the required rate of return? Select one: a. 14.07 percent b. 13.21 percent c. 11.60 percent d. 10.53 percent e. 12.83 percent