Your firm will issue preferred stock and is deciding on the dividend to be paid every quarter. Your CEO wants to set the price at $$50.$ If investors demand an annual required return of $12\%,$ what should the quarterly dividend be$?$

$$3\mathrm{.}00$

$$1\mathrm{.}50$

$$6\mathrm{.}00$

$$0\mathrm{.}50$

$$4\mathrm{.}00$