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Suppose an investor's portfolio contains Stock X, and he analyzes the stock's prospects and concludes that its earnings, dividends, and price can be expected to grow at a constant growth rate of 5 percent per year. The last dividend was $2.8571. Assuming that the expected rate of return on the market is 12% and the risk-free rate is 8%, and the stock has a beta of 2. If the present price of the stock is $30, should the investor:

A. Purchase more of the stock, B. Sell the stock, C. Maintain the present position D. No Enough Information

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