Walter Utilities is a dividend paying company and is expected to pay an annual dividend of $1.25 at the end of the year. Its dividend is expected to grow at a constant rate of 6.00% per year. If Walter's stock currently trades for $14.00 per share, what is the expected rate of retum? 6.08% 11.33% 6.63% 14.93% Which of the following conditions must hold true for the constant growth valuation formula to be useful and give meaningful results? The required rate of return, ts, must be greater than the long-run growth rate. The company's stock cannot be a zero growth stock The company's growth rate needs to change as the company matures