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Consider a company with a beta of 0.51 and has a dividend payout ratio of 0.28. The market risk premium is 7 percent and the

Consider a company with a beta of 0.51 and has a dividend payout ratio of 0.28. The market risk premium is 7 percent and the current 20-year treasury bond yield is 3.69 and the six-month treasury bill yield is 3.18. Suppose that the ROE on this company is 7.82 percent. What will the percentage change in the companys stock price be if the dividend payout ratio doubles? Answer as a percentage and if the price decreases include the minus sign.

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