$($Alternative dividend policies$)$ Final earnings estimates for the Smithfield Meat Packing Company have been prepared for the CFO of the company and are shown in the following table: $.$ The firm has $7,700,000$ shares of common stock outstanding. As assistant to the CFO, you are asked to determine the yearly dividend per share to be paid depending on the following possible policies:

a$.$ A stable dollar dividend targeted at $60$ percent of earnings over a $5-$year period.

b$.$ A small, regular dividend of $$0\mathrm{.}60$ per share plus a year$-$end extra when the profits in any year exceed $$19,000,000.$ The year$-$end extra dividend will equal $70$ percent of profits exceeding $$19,000,000.$

c$.$ A constant dividend payout ratio of $40$ percent.

$\backslash$table$[[2,$$$0\mathrm{.}69,($Round to the nearest cent.$)],[$YEAR$,$DIVIDEND,$],[3,$$$0\mathrm{.}60,($Round to the nearest cent.$)],[$YEAR$,$DIVIDEND,$],[4,$$$0\mathrm{.}87,($Round to the nearest cent.$)],[$YEAR$,$DIVIDEND,$],[5,$$$1\mathrm{.}05,($Round to the nearest cent.$)]]$

c$.$ Determine the yearly dividend per share that will be paid assuming a constant dividend payout ratio of $40$ ercent.

YEAR

DIVIDEND

$2$ $ $9$

$($Round to the nearest cent.$)$