Alternative dividend policies Over the last 10 years, a fimm has had the earnings per share shown in the following table 4. If the fem's dividend policy were based on a constant payout ratio of 40% for all years with positive earnings and 0% otherwise, what would be the anal dividend for 2014 b. If the fem had a dividend payout of $1.00 per share, increasing by $0 10 per share whenever the dividend payout fell below 50% for tea cons c. If the firm's policy were to pay 0 per share each period except when eamings per share exceed $300, when an extra dividend equal to 00% of eamings beyond $3.00 would be paid what annual dividend would the f pay in 20147 d. Discuss the pros and cons of each dividend policy described in parts a through e