Robert Gillman, 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 Company.

Robert has the following information available:

$$ Pan Asia Mining Company$$s stock $($Ticker: PAMC$)$ is trading at $$16\mathrm{.}25.$

$$ The company has forecasted net income and book value of equity for the coming year to be $$1,025,700$ and $$8,027,500,$ respectively.

$$ The company has also been paying dividends for the past $8$ years and has maintained a dividend payout ratio of $32\mathrm{.}50\%.$

Based on this information, Robert$$s forecast of PAMC$$s growth rate in earnings and dividends should be:

$0\mathrm{.}33\%$

$8\mathrm{.}62\%$

$6\mathrm{.}23\%$

$-25\mathrm{.}24\%$