Alternative dividend policies Over the last 10 years, arm has had the samnings per share shown in the following table: . If the firm's dividend policy were based on a constant payout ratio of 40% for all years with positive earnings and otherwise, what would be the num dividend for the form had a draud piyout of $1.00 per share, increasing by $0.10 per share whenever the dividend payout fut below 50% for two cenove years, tad a dividend would the firm pay in 2020? If the firm's policy were to pay $0.50 per hare each period except when earnings per there exova 53.00, when an extra dividend count to 80% of arning beyond $3.00 would be paid, what annual dividend would the firm pay in 2020? d. Discuss the pros and cons of each dividend policy described in parts a through at the firm's dividend policy were based on a constant payout ratio of 40% for all years with positive oaming and 0% otherwise, the annual dividend for 2020 $10 (Round to the nearest cent.) Data table (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Year Earnings per Year Earnings per share share 2022 $4.17 2017 $3.94 2021 $4.41 2016 $1.77 2020 $3.54 2015 $1.08 2019 $3.23 2014 - $0.58 2018 $4.37 2013 $0.94 Print Done