After announcing a full-year dividend of $0.82 the Red Rum Companys dividend share price was $16.50. Immediately after ongoing ex-dividend, the shares are trading at $15.88. There are no taxes. All other things being equal the current price level could best be attributed to:

i) Investors positive expectations about growth opportunities

ii) A company announcement that management had successfully resolved a long-running pay dispute with employees.

iii) Concerns that a new project will not deliver the forecast cash flows expected

Select one:

a. Statement i) only

b. Statement ii) only

c. Statement iii) only

d. Either statements i) and ii)

e. Either statements ii) and iii)