A firm has had the indicated earnings per share over the last three years:

Year	EPS
2016	$3.00
2015	2.00
2014	1.00

(a) If the firm's dividend policy was based on a constant payout ratio of 50 percent, determine the annual dividend for each year.

(b) If the firm's dividend policy was based on a fixed dollar payout policy of 50 cents per share plus an extra dividend equal to 75 percent of earnings per share above $1.00, determine the annual dividend for each year.