Alternative Dividend Policies Boehm Corporation has had stable earnings growth of 9% a year for the past 10 years, and in 2019 Boehm paid dividends of $9 million on net income of $15 million. However, net income is expected to grow by 24% in 2020, and Boehm plans to invest $11.0 million in a plant expansion This one-time unusual earrings growth won't be maintained, though, and after 2020 Boehm will return to its previous 9% earnings growth rate. Its target debt ratio is 30%. Boehm has 1 million shares of stock, a. Calculate Boehm's dividend per share for 2020 under each of the following policies: 1. Its 2020 dividend payment is set to force dividends per share to grow at the long-run growth rate in earnings. Round your answer to the nearest cent 2. It continues the 2019 dividend payout ratio. Round your answer to the nearest cent. $ 3. It uses a pure residual policy with all distributions in the form of dividends (30% of the $11.0 million investment is financed with debt) Round your answer to the nearest cont. $ 4. It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy. What will the extra dividend be? Round your answer to the nearest cent. 5 b. Which of the preceding policies would you recommend? -Select