1. A firm has had the following earnings history over the last five years

   Year	EPS
   2020	5
   2019	4
   2018	3.5
   2017	2.5
   2016	-2

If the firm's dividend policy was based on a constant payout ratio of 15 percent for all of the years with earnings over $3 per share and a zero payout otherwise,

1. Calculate the annual dividend for 2019. $ Blank 1. Fill in the blank, read surrounding text.
2. Calculate the annual dividend 2016. $ Blank 2. Fill in the blank, read surrounding text.

Year	EPS
2020	5
2019	4
2018	3.5
2017	2.5
2016	-2