4. A firm that has an ROE of 12% is considering to lower its dividend payout ratio. Investors require a return of 13%. Which of the following statements is (are) correct? I. All else equal, the firm's dividend growth rate will increase after the payout change. II. All else equal, the firm's stock price will go up after the payout change. III. All else equal, the firm's P/E ratio will increase after the payout change. IV. Plowback ratio will increase after the payout change. A) I, II, and IV only B) I and IV only C) I, II, III, and IV D) II and III only