You expect KT Industries (KTI) will have earnings per share of $4 at the end of this year and expect that they will pay out $2 of these earnings to shareholders in the form of a dividend at the end of this year. KTI will retain the rest of its earnings to reinvest in new projects with an expected return of 5%. Suppose KTI will maintain the same dividend payout rate, retention rate, and return on new investments in the future. The expected growth rate for KTI's dividends is closest to: 2.5% 5.0% 2.0% 4.5% 1.0%