Pittsburgh Ecological Technology (PET)has been growing at a constant 4 percent rate for more than 10 years, and this growth is epxected to continue forever. Last year PET paid a dividend equal to $2.50 per share. If dividends grow at the same rate as the company's growth rate, what should be the per share dividend that PET pays this year?
A. $2.50
B. $2.40
C. $3.00
D. $3.50
E. $2.60
Answer: E
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