An analyst does research about equity valuation and gathers the following information about a company and the economy. The current share price is $45, the price-to-earnings ratio is 15, the nominal risk-free rate is 3.1%, the risk premium is 7%, and the expected retention ratio is 40%. The best estimate of the company's dividend growth rate is:()
A. 6.1%
B. 7.4%
C. 14.1%