Alternative Dividend Policies Boehm Corporation has had stable earnings growth of 8% a year for the past 10 years, and in 2019 Boehm paid dividends of $4 million on net income of $10 million. However, net income is expected to grow by 28% in 2020, and Boehm plans to invest $7.5 million in a plant expansion. This one-time unusual earnings growth wont be maintained, though, and after 2020 Boehm will return to its previous 8% earnings growth rate. Its target debt ratio is 34%. Boehm has 1 million shares of stock. Calculate Boehms dividends per share for 2020 under each of the following policies: (1)Its 2020 dividend payment is set to force dividends to grow at the long-run growth rate in earnings. (2)It continues the 2019 dividend payout ratio. (3)It uses a pure residual policy with all distributions in the form of dividends (34% of the $7.5 million investment is financed with debt). (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.

answers please help with work 1 $4.32. (2)$5.12. (3)$7.85. (4)Regular = $4.32; Extra = $3.53