1. Concave Systems presently has earning interest and taxes of $6 million. Its interest expenses are $1,000,000 a year, and it pays $600,000 in annual dividends to its shareholders. Concave has 300,000 common shares outstanding, and its tax rate is 40 percent. Its annual capital expenditures are $900,000. Concave's present priceto-earning ratio is 8 . a. Calculate the company's earnings per share and interpret. b. Calculate the company's dividend payout ratio and interpret. c. Calculate the company's dividend yield and interpret