1.A C corporation has after-tax earnings per share (EPS) of $8.00 and the firm pays out 15% of EPS as a dividend. The corporate tax rate is 25%, the personal tax rate on dividends is 15%, and the personal tax rate on non-dividend income is 35%. How much would an individual receive from the dividend after-taxes? Answer to the nearest penny.

2.Last year, Bay Company had 89 million in retained earnings. This year, they generated 25 million in net income. They decide to pay out 40% as a dividend. Find the retained earnings for this year (in M). Answer to the nearest million.

3.Dr. J. wants to buy equipment. She expects it will cost $65,000, to be purchased 10 years from today. He would like to set aside an equal amount at the end of each year in order to save up for the purchase. He can earn 6%. How much should he set aside? Round to the nearest dollar.

4.How much must you deposit in an account today so that you have a balance of $20,000 at the end of 15 years if interest on the account is 18% APR, compounded quarterly? Round answer to the nearest dollar.