A financial analyst is attempting to assess the future dividend policy of Erivironmental Systems by examining its life cycle shie anticipates no payout of earnings in the form of cash dividends during the development stage fi) During the growth stage for uhe anticipates 14 percent of earnings wili be distributed as dividends. As the firm progresses to the exponsion stage quit the puyor ratio will go up to 36 percent and will eventually reach 59 percert during the maturity stage (M ) a. Assuming earnings per share will be as follows ouring each of the fow stages, indicate the cash dividend per share if arph turing each stage. (Leave no cells blonk - be certain to enter "O" wherever required. Do not round intermedinte caiculations and roung your answers to 2 decimal places.)