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One of the most important components of stock valuation is a firm's estimated growth rate. Financial statements provide the information needed to astimate the growth rate. Consider this case: Robert Gilman, an equity research analyst at Gillman Advisors, believes in efficient markets. He has been following the mining industry for the past 10 years and needs to determine the constant growth rate that he should use while valuing Pan Asia Mining Co. Robert has the following information available: - Pan Asia Mining Co.'s stock (Ticker: PAMC) is trading at $21.25. - The company has forecasted net income and bok value of equity for the coming year to be $1,341,300 and $10,497,500, respectively. - The company has also been paying dividends for the past eight years and has maintained a dividend payout ratio of 42.500000%. Based on this information, Robert's forecast of paMC's growth rate in earnings and Gividends should be: 8.15\% 7,35% 28.75% 27.16% - The company has also been paying dividends for the past eight years and has maintained a dividend payout ratio of 42.500000%. Based on this information, Robert's forecast of PAMC's growth rate in earnings and dividends should be: 8.15%7.35%28.75%27.16% Which of the following statements accurately describes the relationship between earnings and dividends when afl other factors are held constant? Growth in earnings requires growth in dividends. Retaining a higher percentage of earnings will result in a higher growth rate. Long-nun eamings growth occurs primarly because firms pay dividends to reward their sharoholiers for investing in the campany