根据股利增长模型：股票的资本成本率 Ks = D1 / [P0 × (1 - f)] + g。 已知： P0 = 12 元/股 f = 6% D0 = 0.6 元 Ks = 11% D1 = D0 × (1 + g) = 0.6 × (1 + g) 代入公式： 11% = 0.6 × (1 + g) / [12 × (1 - 6%)] + g 11% = 0.6 × (1 + g) / (12 × 0.94) + g 11% = 0.6 × (1 + g) / 11.28 + g 两边同时乘以 11.28： 1.2408% = 0.6 × (1 + g) + 11.28g 1.2408 = 0.6 + 0.6g + 11.28g 1.2408 - 0.6 = 11.88g 0.6408 = 11.88g g = 0.6408 / 11.88 ≈ 0.05394 ≈ 5.39% 因此答案为 B。