18 Ita firmadheres strictly to the residual dividend policy, and if its optimal capital budget requires the use of all earnings for a given year (along with new debt according to the optimal debt assets ratio), then the firm should pay Select one: a. the same dividend as it paid the prior year, dividends only out of funds raised by selling off fixed assets. c. dividends only out of funds raised by borrowing money (ie, issuing debt). d. no dividends to common stockholders. e dividends only out of funds raised by the sale of new common stock