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  3. the common stock of auto deliveries sells for $27.

The common stock of Auto Deliveries sells for $27.46 a share. The stock is expected...

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The common stock of Auto Deliveries sells for $27.46 a share. The stock is expected to pay $1.90 per share next year when the annual dividend is distributed. Auto Deliveries has established a pattern of increasing its dividends by 4.3 percent annually and expects to continue doing so. What is the market rate of return on this stock? Multiple Choice 6.92 percent 9.07 percent 11.22 percent 13.37 percent 15.52 percent

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