The equity of Blooming Roses has a total market value of $148,900. Currently, the firm has excess cash of $4,200 and net income of $21,400. There are 1,100 shares of stock outstanding. What will be the percentage change in the stock price per share if the company pays out all of its excess cash as a cash dividend?

• 3.14 percent

• 3.08 percent

• 2.75 percent

• 0 percent

• -2.82 percent