1. Calculate the EPS, ROE and DFL based on the following data for the Rankin Co. Bonds (13%) Common Stock ($3 par) Retained Earnings $22 million $15 million $3 million Current EBIT Tax rate $16 million 30 % 2. The Imperial Ice Co. has a 24% dividend payout ratio. It is currently paying a dividend of $2.80 and has a P/E ratio of 17. Calculate the firm's EPS and market price. Based on the market price calculated, what is the dividend yield? If the EPS goes to $9.80 and the firm cuts its payout ratio to 15%, how much current income per share will stockholders lose