12. Bula Brothers wants to borrow $50000. The company has a policy to maintain an asset to equity ratio of 1.50 and has a residual dividend policy. The before tax earnings for the year that just ended were $372000. The tax rate is 30%. How much dividends can Bula Brothers pay from their annual earnings. A. $160400 B. $260400 C. $210,400 D. $322,000 13. Lamu needs $190000 for new investments next year. The company has a debt-equity ratio of 0.45 and has a residual dividend policy. The after-tax earnings for the year that just ended were $254300. The tax rate is 24%. How much of their annual earnings will Lamu pay out in dividends? A. $64 300.00 B. $147 500.00 C. $102 348.16 D. $123 265.51