1. Kurt's Adventures has a debt-equity ratio of 3. Earnings for next year are estimated at $30,000. Capital spending is estimated at $100,000 for next year. If the company follows a residual dividend policy, what is the estimated dividend payout ratio? A) 0% B) 17% C) D) 48% 67% 33% E) 2. SweepDeep Enterprises announced the payment of a $1.50 per share cash dividend to holders of record as of Wednesday, June 22. In order to receive the dividend, you must purchase or own the stock no later than A) Wednesday, June 22 B) Tuesday, June 21 C) Monday, June 20 D) Friday, June 17 E) Thursday, June 16 3. Underwriting where the syndicate sells as much of the issue as possible, but can return unsold securities to the issuing firm without any further financial responsibility, is called a: A) Best efforts offering. B) Shelf offering. C) Direct rights offering. Private placement offering. D) Firm commitment offering. E) 4. Rank the following goals in a decreasing order of importance (from most important to least important) in a compromise dividend policy. I. Avoid dividend cuts Maintain a target debt/equity ratio Avoid the need to sell equity Avoid cutting back on positive NPV projects II. . IV. ) IV, II, , I ) , , , IV C) IV,I, II, I D) I, II, IV, III E) IV