29) CoolCo had earnings in the last period of 1$ per share. Earnings are growing at a constant rate of 5%, and expected to continue growth at that rate. Management of CoolCo, estimates that the required rate of return on their shares is 10%. They would like to target a trading price for their shares at $10/sh. The dividend payout ratio that most closely meets their objective is: A) 47.6% B) 52.4% C) 50.0% D) 54.2% E) 57.3%