Your company had net income of $117,500 for the year just ended.Dividends of $70,250 were paid on the company's beginning equity of $1,292,500.If the company has 90,000 common shares outstanding with a current market price of $11.00 per share, what is the required rate of return on the shares assuming a constant sustainable growth rate of dividends?

Question 25 options:

9.91%

10.19%

10.46%

10.74%

11.01%