c. E1 (earnings at the end of period one) = $5, payout ratio equals 40 percent, Po = $29, g=8.5%, F= $2.80. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Kn d. Do (dividend at the beginning of the first period) = $4, growth rate for dividends and earnings (g) = 7%, Po = $55, F= $5. (Do not round intermediate calculations. Round your answers to 2 decimal places.)