Wholesale Foods Common Stock Is Valued at $11

Wholesale Foods common stock is valued at $11.05 per share.The firm pays annual dividends which increase at a constant rate.The last dividend paid was $1.20.The required return is 12 percent.What is the dividend growth rate?

A) 1.03 percent
B) 1.67 percent
C) 3.47 percent
D) 3.59 percent
E) 4.00 percent