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Change to low-dividend-payout policy. Scott currently owns 500 shares of Twelve Colonies, Inc. Twelve Colonies has a high-dividend-payout policy and this year will pay a

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Change to low-dividend-payout policy. Scott currently owns 500 shares of Twelve Colonies, Inc. Twelve Colonies has a high-dividend-payout policy and this year will pay a $2.00 cash dividend on its shares, which are selling currently at $18.00. Scott wants a low-dividend-payout policy of 2% of the stock price. What will Scott need to do to convert this high-dividend-payout policy to a low-dividend-payout policy for himself? Assume a world of no taxes and transaction costs. What will Scott need to do to convert this high-dividend-payout policy to a low-dividend-payout policy for himself? (Select the best rersponse.) A. Scott needs to do nothing. B. Scott needs to purchase 45.56 more shares of stock. C. Scott needs to sell 45.56 shares of stock. D. Scott needs to sell 51.25 shares of stock. E. Scott needs to purchase 51.25 more shares of stock

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