Which of the following statements is most correct?

Select one:

a. Assume that the required rate of return on a given stock is 13 percent. If the stocks dividend is growing at a constant rate of 5 percent, its expected dividend yield is 5 percent as well.

b. The dividend yield on a stock is equal to the expected return less the expected capital gain.

c. A stocks dividend yield can never exceed the expected growth rate.

d. All of the answers above are correct.

e. Answers b and c are correct.