2 A company follows a strict residual dividend policy. It has a capital budget of $3,000,000 and a target capital structure that consists of 40% debt and 60% equity. Net income is forecast to be $2,500,000. Calculate the expected dividend payout ratio. Select one: O a. 28.00% O b. 72.00% Oc. 38.75% Od. 64.71%