$3$A$.$ NPH wants to increase capacity by $40\%$ with a $$10$ million investment in plant and machinery. The firm wants to maintain the current debt$-$to$-$total$-$asset ratio in the capital structure of $40\%.$ It also wants to maintain the past dividend policy of distributing $45\%$ of last year$$s income as dividends. Last year$$s income was $$5$ million. How much external equity must NPH seek for the expansion?

$3$B$.$ PC has a capital budget of $$1\mathrm{.}2$ million. The company wants to maintain a target capital structure which is $60\%$ debt and $40\%$ equity. The company forecasts that its net income this year will be $$600,000.$ If the company follows a residual dividend policy, what will be its payout ratio?