Mammoth Mart's common shares are currently trading for $59.85 and the company paid its annual dividend of $0.60 per share
If your required rate of return is 12%, what is the implied growth rate in dividends? (Assume that dividends are expected to grow at a constant rate in perpetuity.)
A) 1.00%
B) 8.46%
C) 10.89%
D) 11.00%
E) 11.46%
C
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