1) A firm has had the indicated earnings per share over the last three years: Year EPS $3.00 2018 2017 $2.00 $1.00 2016 (a) If the firm's dividend policy was based on a constant payout ratio of 50 percent, determine the annual dividend for each year. (b) If the firm's dividend policy was based on a fixed dollar payout policy of 50 cents per share plus an extra dividend equal to 75 percent of earnings per share above $1.00, determine the annual dividend for each year