Problem 8.35 P/E Model and Cash Flow Valuation (LG8-5, LG8-7) Suppose that a firm's recent earnings per share and dividend per share are $2.50 and $1.50, respectively. Both are expected to grow at 9 percent. However, the firm's current P/E ratio of 24 seems high for this growth rate. The P/E ratio is expected to fall to 20 within five years. Compute the dividends over the next five years, (Do not round intermediate calculations. Round your answers to 3 decimal places.)