The Glass Ceiling Paid an Annual Dividend of $2

The Glass Ceiling paid an annual dividend of $2.20 per share last year.Management just announced that future dividends will increase by 2.8 percent annually.What is the amount of the expected dividend in year 5?

A) $2.39
B) $2.41
C) $2.46
D) $2.53
E) $2.58